Wm Fife's "Lady Anne" has problems with her CIM rating due to having carbon mast and bowsprite. They are both sheathed in wood. Maybe you could find out who did the work and get the low-down on the problems you will encounter. http://www.classicyacht.info/modules/yachts/The+Lady+Anne-TName-yachts_detail-942.html

Or as Big_Southern_Jesse suggests, get a decent wooden mast. A well built hollow Sitka Spruce mast will be stronger and lighter than it's aluminuim equivalent.