Leaking what I believe is trans fluid

[Kowboy]

Hey there everyone! I'm a rookie when it comes to small engines. About 2 months ago I bought my 1st Blaster, 1989 200. Has been running great since, little bit of white smoke here and there out the exhaust. But no problems until the other day. I was out on the trails and had stopped for a cross street and just happened to look down and noticed a few drops of what I thought yo be trans fluid (red tint). I wiped all the fluid away to see if I could locate the leak, it appears to be coming from behind my shifter....before I get too far along in a tear down, does anyone know what my problem could be or where it's leaking from?

 

[Awk08]

could be the shift shaft seal itself or chain whack has cracked thru the cases

 

[Kowboy]

I did check to see if the chain had caused any damage. Chain has some slack to it, but no visable cracks in the cases anywhere

 

[Larry's Shee]

Adjust or replace both sprockets and chain as a set (preferred method)
Two ways to check wear. With chain adjusted pull on chain at middle point of back sprocket.
Before adjusting check movement side to side.
Both tests should have very little slop

 

[Kowboy]

I know how to adjust my chain. That's not what I'm asking for help with.