Yes it's time for a new water pump, that's why the weep hole is there.
When my water pump started leaking from the weep hole, I replaced it right away, but at 11 years old and 130,000 miles, I didn't mind
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33% ALEROMOD OWNER!!
2000 Olds Alero 3400 SFI 14.53 @ 94.93
1985 Olds Delta 88 307 SBO 17.96 @ 76.99
2007 Volvo V50 T5 6M 15.782 @ 89.12
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