Need help on figuring out a gas leak

It’s your float bowl overflow, it should have a hose going down towards the ground. Likely your carb needs to be rebuilt and cleaned, when gas comes out of that vent it means your float valve isn’t fully sealing due to debris or a worn out float needle/seat.

Yeah, either your float is no longer floating, there is some debris in the float valve, or your float level needs to be adjusted. Either way, you'll need to take the carb out and clean it.

The float looks sort of like this:


To check the float itself, just drop it into a container of liquid and make sure it floats. If it does not, you need a new float.

If you have a service manual, it should have some instructions for verifying (measuring) float level. If it's off, you will need to bend a little tab until that measurement is good. Here's a thread on float height adjustments:
https://www.vitalmx.com/forums/Race-Shop,42/Float-height-adjustment-for…

As for the valve...just clean everything real well to make sure there is no debris preventing it from closing properly.

Best of luck

What these guys said, for sure. That float valve is stuck like a big dog.