Water pump(not impeller) issue

I have not been able to find an answer in previous post so here goes... I see water at a somewhat steady stream coming from the bottom of my engine water circulation pump. There is a weep hole, but that's not where it comes from, it's the bottom side of the pump. ...Ok, no prob, I have always been told that if you see water from the weep hole then the seals are going bad, replace the pump. In this case it's not the weep hole, it is the bottom of the pump... fast fwd- new gasket set, sealed still streaming.   Ok, a buddy had a new PCM pump and I bolted it on, still streaming. I am now officially at a loss. Before I buy anything I'll wait for you guys to chime in with hopefully the same experience and fix before...

engine is a 351 PCM... block looks great, no crack, no water in oil, not coming from the thermo... Believe a new gasket and some serious gasket maker around the engine holes (whatever they are called) and the bolt holes will do it. Here are some pix.