sb collant leak at timing cover??

All good advice except I'd toss out the felt seal that comes with the gasket set.. If you don't have a good spare timing cover, you might want to see what is available near you. I would bet it's corroded to the point it's leaking. Install a new water pump while you're at it. NEVER use tap water! Use distilled and antifreeze and you'll not have a cooling system problem again for a couple of decades.