Tony: For a permanent solution, you will need to fill the offending hole with epoxy then insert the original screw. Once the epoxy cures, back out the screw. The epoxy will adopt the thread pattern.
Be sure to coat the screw with wax or bar soap to allow it to release from the mold you are making.
Or, simply drill a properly-sized pilot hole into the hardened epoxy.
Remember, use epoxy, not polyester resin.