sounds like the wire will need to be replaced,probably best to give it to a pro really, basically what you'll need to do is use the correct gauge wire (i think welding wire can be used) and it needs to be very lightly tapped into the groove all of the way around,then when you get to the join you need to cut it and file the end off until it's so close you can barely see the join.

it needs to sit uniform on all 4 bores and you can't just remove the wire and hope for the best....you could however have it flatted down so it's absolutely level with the block face, obviously this then will give no benefits but at least you can still use the block.

the idea of wire ringing is to increase the strength of the fire ring to prevent it 'blowing out' (obviously when the head is torqued down,the wire bites into the gasket and holds it nice and tight)