What in tarnation is this hole and why is water coming from it?

[HeXploiT]

I've had water leaking from my 90/91 for ranger for the past month to such an extent that I have to refill the radiator every two days. I climbed under the truck and snapped this pic of where the water appears to be coming from. There is a hole here which looks like it's supposed to be here but doesn't look like a bolt would go there. I'm not a mechanic so I just don't know. What is this hole and why is water leaking from it?

[tempfixit]

That is called a weep hole on the water pump. If it leaks there it meanss the watter pump bearing and seal are bad> Water pump needs to be replaced.

[HeXploiT]

Well that sounds pretty straight forward.

Thanks a bunch.