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740 Coolant pouring out around front crank 700 1988

My 88 740 (owned it since new, more miles than anyone would believe)has suddenly developed a catastrophic coolant leak. System is out of liquid in 10 min. It is coming from behind the timing belt cover onto the crank pulley. I thought it was the water pump and just replaced it, but the coolant still pours out. Is there maybe a freeze plug located on the front of the block? No coolant in the oil,it is leaking straight outside, so the head gasket should be OK. I'm hoping the block isn't cracked, I've had her a long time and don't want to put her down.
Any thoughts?
Thanks






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