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It's referred to as the wing joining plate. It is basically butyl tape, 2mm or 3/4". Easy to get cheaper non-branded. I can't see silicone caulking holding up there, not to mention it would have been sprayed with undercoating which wouldn't adhere to silicone.
Seam sealer would have been applied over welded areas, while terostat seems to be used where the fender bolts to the chassis.
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Ed
1973.5 T
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