If that "little hole" is perfectly round and about 1 1/2" or so in diameter, with a metal cover in it, that is a "core plug". Another common name for that is "freeze plug" because if the coolant freezes, that plug is likely to get pushed out.
Core plugs often corrode from the inside, especially if the coolant isn't changed every two years to replenish the additives that wear out. Some core plugs are very inexpensive to replace, but some take a long time due to problems getting to them, and other things in the way.
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Thursday, September 17th, 2015 AT 9:22 PM