DON'T PANIC YET!!!!!!---you could have a bad gasket between the timing cover and the block that is just now showing up and it will leak water into the pan/check the long bolts that go thru the water pump and see if they are tight[DO NOT BREAK THEM OFF]/THE WATER PUMP CONNECTION COULD BE CRACKED WHERE IT CONTACTS THE COVER AND BE LEAKING IN ALSO---CHECK A FEW OF THESE SIMPLE THINGS FIRST BEFORE YOU PANIC PLEASE---HAPPY HUNTING --LIVELY IN ILLINOIS