antifreeze leak

[Ron94mustang3.8]

My 94 3.8 has a coolant leak coming from the front of the engine under the water pump, but it doesn't seem to be coming from the water pump itself. It seems to be coming from the front of the engine right under where the timing belt would be. I'm told that there is a gasket on the timing belt cover which often leaks but I would like to know if this sounds probable before I go pulling it apart.
Also, If it is a common problem are there any tricks or tips I should know about before I start.

Thanks in advance for any help you can offer.

Underneath the water pump is a hole called the weep-hole and it will usually start leaking when the water pump starts to fail, this may be one possibility, and the other is the water pump to timing chain cover gasket. One thing you can do before taking the cover off (not sure if the V6 is similar to the 5.0L or not), but take off the water pump first and inspect the area to see if it was actually leaking out of the water pump or not. Gaskets are cheap anyways, so taking off the water pump is no big deal. While you're at it wiggle the water pump impeller shaft (the pulley bolts onto the shaft) and if it actually moves the water pump is probably starting to go bad. There is also a gasket from the water pump to the timing chain cover which is also likely to be a cause. First try taking off the pulleys, and the belt and looking around with a flash light before ripping anything apart just to get an idea of what you're dealing with. It shouldn't be very hard or take very long to replace the water pump gasket. Worst case scenario is that the actual timing chain cover is leaking at the block out the side, so you'd have to replace the Timing chain cover to block gasket. which takes awhile, but isn't too hard. Good luck!

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'84 Mustang 5.0 LX
My car