Strange oil leak question

[BroncoN00b]

I have a very slow oil leak in my '75 302 C4. The leak is slow enough that I have not even noticed a discernible change in the level on the dipstick. The only reason I know it is leaking is by a few drops I see under my Bronco after driving it. The drops seem to be falling from the bell housing unit and from just under the oil drain plug. I cannot tell if the drain plug or gasket is faulty or if the leak is coming from up above somewhere - perhaps from the rear of the oil pan gasket - and pooling on the bottom of the oil pan under the drain plug before falling.

One weird thing though is that the oil that falls out is black, like old oil. However, I just put in new oil and on the dipstick the oil is still clear and new. Is that a normal situation in an oil leak? Also thoughts on where the leak could be coming from and what to check for? I'm not even sure how big of a problem this is. I could take some pictures and post. Thanks a lot.

 

[Skiddy]

could be the rear main seal, old looking oil probably from all the dirt and grime that it runs through. see if you can clean it all off and can tell exactly where it is coming from.

 

[BroncoN00b]

could be the rear main seal, old looking oil probably from all the dirt and grime that it runs through. see if you can clean it all off and can tell exactly where it is coming from.

That's what I am hoping it will not be

Okay, I'll wipe it clean drive it around the block and see if I can tell where it could be coming from.

 

[Heus33]

rub the oil between your fingers - if its red, its trans fluid, if its brown its engine oil.

Sounds like engine oil to me - follow the leak - could be something simple - like the back of one of the valve covers.

If you can't find it (too dirty), get out the degreaser and clean everything. Chasing down leaks is no fun.

 

[BG's 68 Bronco]

I was thinking valve cover if you've taken them off recently. The gasket could have not set properly. Had a similar thing happen to me on my newly restored c10. You do all that work and then you're thinking I have to pull the engine and do the rear seal again%), but it was coming form the passenger valve cover cause the gasket shifted when I put it back on.

Have you done anything to the engine recently?