I'd leave it. If it doesn't leak, it's not a hole you need to
plug. Water pumps are not something you lubricate- they get their
lubrication partially from the coolant itself. I suspect you're actually
seeing a weep hole, which will leak like the dickens when the seal in the
pump goes out.
That's the way it is on GM small blocks I tend to think it would be
similar on these as well. Of course I could be totally wrong as well. :)
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