Water leak at/near pump bolt hole? 1956 322 Nailhead

At least it is a new pump, which hopefully will last longer than the previously available rebuilt pumps!
 
It's a drain hole and belongs there. Should the rotating seal leak just a tiny amount, maybe 2 drops/day, the coolant runs on out without getting into the bearing.

Yours has been leaking enough to be noticeable, even showing a rust trail. Probably will just get worse. It's time to replace the pump before water ruins the bearing.

Thanks for good advice of waterpumpsproblem.My Nail 54 hade the same problems some years ago.But i get a reabuilt pump of A Norwegian not any name helped me and i asked about the hole under pump.Oilhole?now i have the right answer in this site.Tanks.My Lady works fine.500 mil, not miles driving this summer no problems at all.Now in Sweden is the Winter coming,and a time to do some things to get my Lady alert for next Summer.Stubbe in a cold Sweden.:car::shifter::waving:
 
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