Tear it down and see if it is rebuildable. If the piston and cylinder came out unscathed or only light piston marking you could lap in new valves and file level any raised edges on the piston and breathe life into it again. But, you have to weigh the ups and downs of doing this...
Cost, other wear, etc. You can actually build a small compressor out of an old mower or other motor with some odds and ends of piping, valves and the like. Don't expect great things out of it, like 125 psi and high cfm but for a hobby compressor for an airbrush or inflation, etc. You do not use the valves but epoxy or other glue them closed and the plumbing for compressed air comes out of the spark plug hole. Need a tank and a drive motor to rotate your piston and some other stuff. I can send you an article if you like...
Check and see what a rebuild on it might entail if you want to tackle it. You have a new carb, you could take the head or block where the helicoil is out and have a good tig welder to weld that area closed and then you drill and tap it with a bottoming tap. Naturally you are going to want to locate it properly for your intake and exhaust flange this is securing in the correct spot.
It is likely to be repairable, depends on the effort you wish to expend upon it. Or if you want a new mower to leave any issues with this one behind.
Just a thought...
David