Due to repeated collisions with underwater rocks, my flange had separated from the keel box and a crack was visible on both sides of the keel. Water was leaking into the inside tank during the summer when the boat is sailed often.
Per Craig Smith's direction, I removed the putty from the flange gap with a buzzy tool (same as used for drywall and general vibratory cutting). I then applied masking tape around the area to be repaired to ensure I didn't get epoxy outside of the desired area. I used a putty knife to repeatedly push toughened epoxy (ask Craig for the correct product) into the gap and then smooth the inside surface (adjacent to the keel). After curing, I filed and then sanded the epoxy to match the keel box. The entire repair took two days.