Not, sounds like a seal vent for the water pump, shouldn't leak.
That is the weep hole for the water pump located along the water pump shaft passage between the oil seal and the water seal. The water seal is leaking coolant. You'll need to replace both seals and the bearing to properly tighten things back up. Inspect the water pump shaft and replace it if it is worn or grooved where the seals ride on it. Don't forget to get a water pump gasket and a right crankcase cover gasket.
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