I have a 4.3L mercruiser 1998 with thunderbolt ignition. I am in the process of doing some maintenance and while the engine was running, I noticed a small amount of water dripping from the recirculating pump. When I reved the engine, sometimes a stream was coming out. I took off the pump and noticed what seemed like a weep hole in the back of the pump. The hole is about 1/8" diameter and I assume that is where water was coming out because it had some water streaks/corrosion lines from the hole. Anyone have an idea of what could be going on with it? The gasket on the water pump looks fine with no visible signs of leaking.