Well, I felt all around the thermostat which was replaced about 6 months ago. It's dry as a bone. Doesn't appear to me at this point something is dripping on top of the leaky, bubbly bolt.
It looks really gummy and oily in that area and for sure tiny bubbles are coming from that cover at that bolt. Even after I shut the engine off I could watch a little bubble or two bubble up from that cover (assuming it's the timing cover). I'm still stumped. Should I maybe snug up those bolts some?