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Looks to me like a form of osmosis. and likely to be caused by rot in the wooden frame having an adverse effect on the aluminium, a sort of oxidation (Not spelt right. )
Needs looking at by a pro.. But possible to repair...
AT a price!!
Cheers, Dave
It is NOT a job for an amateur as that has some serious damage and even if you do a fantastic repair when you come to sell it there is no guarantee that the prospective purchase won't find problems still ...
WALK AWAY FROM THE VEHICLE - NOW!!!!!