the metal is a zinc alloy,pretty crumbly take care,just get a new fuel tap,with all due respect I think the work involved to repair it may be out of your experience/skill scope and if its no good you just spent money on stuff youll hardly use?,new ones are obtainable even repros,if it was some rare oddball thing from the 1940s and not obtainable new that's where youd go the extra mile and repair the old one.