If it wee me, I'd message Bill Benton and see if he has a used cover and replace it rather than attempt to repair it.
The hole looks to have a small indentation to it, so fully remove, and push the hole outwards. To weld it, you'll first have to purge all the oil impregnates in the aluminum, no easy feat. TIG welding it will bring all the grease up, which will make welding it very tricky. You could apply a small aluminum patch inside and weld it ariund, but it will still face the challenges mentioned above...