Thanks everyone for the replies. Nice to find a website with activity for ice fishing.
I did get it mounted. Went in pretty smoothly. Used 3/8″ bolts, 3″ long and had enough for fender washer, locking washing and nylon nut. I did put Marine Silicon (thanks MrPike1973) on both end of the bolt before tighten down. Painted the holes after drilling and after tightening everything up I sprayed in some Flex Seal in the hole cut into the foam, covering the back end of the bolt and nut. Should not be easy to get out but hopefully won’t rust.
Have tire cover coming today but still looking for long chrome lug nuts to cover the end of the stud.