Mercrusier 3.0 Exhaust Pipe Gasket Question

SeaWeavers

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I currently have the exhaust pipe removed on my Mercruiser 3.0, the new gasket has arrived ready to refit however, when I removed the bolts on the top of the exhaust each bolt had some sort of sealant on the tip to keep them watertight. Does anyone know what this sealant is or what I should use when I fit the new gasket?
 
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