You said that it is streaming out of the engine block. It sounds to me like your freeze plug is leaking. A set of plugs is only about $6, but getting the old leaky one out and the new one in is the tricky part due to accessibility. I changed out one in my 89 Ranger a few years ago (4cyl) and 1 week later the one further back started leaking. I got the old ones out by tapping a small screwdriver into the center until it poked through (careful!) and then pried it out. NOTE: amazing how stubborn they can be to get out, yet it leaked!
new one tapped in with a socket in the center to tap on. A mechanic friend suggested I put gasket seal on it to prevent leaks. Oh yeah, also clean the hole with some steel wool before installing new one.
Like I said, getting to them is the hard part. With your v-6 you may have to move or remove parts. Someone else may have more specifics on that.
:redexp: Rob