Is this rim salvageable

World\'s Dump
World\'s Dump Posts: 107
edited November 2010 in Road general

I recently got hold of an old Raleigh racing bike frame. Admittedly bits of it are beyond repairing such as the rear wheel which has perished. The front wheel however on the surface looked in reasonably good condition until I removed the tube and tyre and saw the following: ... ostream/#/

Structurally It feels and appears quite good. It's not as if I could put a screwdriver through the rim just like that. It's probably a silly question (and because I'm on a budget), but could this rim be salvageable or should I get rid and buy a new one?