Well first off the coolant is contaminated, so that's not a good sign to begin with.
I really can't tell much from those pictures to be honest. Can you see it from the top? maybe where it's dripping onto the axle shaft?
How does the coolant become contaminated? It has not run hot or blown smoke.[/QUOTE
Who knows, maybe someone unwittingly put windshield washer fluid in the recovery tank. Been known to happen. .Not likely a head or head gasket issue if it's a V8.
If you're recovery tank is polluted then why is the leak so clear?
Do you have a mirror and flashlite. Might help locate the the issue if you can't get it on a lift for a good look.
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How does the coolant become contaminated? It has not run hot or blown smoke.
That could be it.
It's possible, I am not there to really look at the leak in person so it's hard to say. But I have seen that waterpump/thermostat assembly incorrectly sealed/installed before leaking.
Well I mean, gaskets dry out and seep, then leak over time. Valve cover gaskets tend to be one of the more common gaskets to leak over time. Most 100k+ vehicles will start to seep and/or leak from the valve cover gaskets (if you're following Toyota's 60k valve inspection guide, you'd be replacing them every 60k.)
Bottom line, it's a common thing on older, higher mileage vehicles and relatively cheap and easy to fix on the V8.