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Ford Explorer Community - Maintenance - Modifications - Performance Upgrades - Problem Solving - Off-Road - Street
Explorer Forum Covers the Explorer ST, Explorer Sport, Explorer Sport Trac, Lincoln Aviator, Mercury Mountaineer, Mazda Navajo, Ford Ranger, Mazda Pickups, and the Ford Aerostar
I would think that it would be a hose, or radiator. I would also get a pressure teseter and put some pressure in the system and see if you can find a leak.
There is a heater bypass valve that is notorious for leaking around the valve arm. Other than that trace the hoses that run to the heater core (they run past the alternator) . Any hoses that show signs of cracking should be replaced. Normally if a hose blows, you will see it, however hose clamps do loosen over time and can leak check/tighten each of them to make sure they not leaking. If your seeing antifreeze then you have the general location to look for the leak. Do you see anything dripping while the engine is running?
Welcome to this forum! In my past experiences with old radiator hoses, once one hose starts to leak, the other hoses will start leaking shortly after. Replace all of them at the same time. Replace the thermostat at the same time.