If you can find a tank you should be able to use it. I had a good compressor and the tank rotted out. There eas a shop in town that rebuilt compressors including industrial units. I went to them and bought the new reed valves and asked about buying a new tank.
They refused to sell me a tank stating lability as the reason.. I went home and patched the tank using screen wire and JB weld.
It held for about a year till my father-in-law cranked the pressure up to 120 lbs and blew the patch off.
Ifixed it again using the wire and Bondo and it held fine.
I'll advise to get rid of the tank. I had a really bad experience w/ a rusty tank.