When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
It's a pretty common leak point if the axle has been beaten on. The axle tube is pressed in place, then the weld is just kind of a keeper so it doesn't move too far. The cast iron can stretch a bit if it's severely stressed, and so the oil will start leaking out.
Don't weld without following proper procedures for cast iron, and take the weight off the axle beforehand.
Thanks for the information. This truck has been driven on the street since 1995. I was replacing clutch linkage when I noticed the leak. There was quite a bit of gooey dirt around the hole preventing the leak from showing up on the garage floor.