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Which end of the driveshaft has more oil on it? For the rotation from the powerhead to make it to the propellor, the lower end of the driveshaft has to reach into the gearbox to grab a gear. Consequently, that end of the driveshaft touches the gear oil. If the driveshaft is out, then gear oil can come out. If the driveshaft was installed when the gear oil came out from the top of the gearbox, then it’s time to look into a new driveshaft seal. It would be a good idea to refill the gearbox now that that much has leaked out, and gear oil bottles commonly say not to mix gear oils (I think because of a concern with their additives mixing incompatibaly), so a complete oil change would be my reccomendation. If this motor has the standard 2 slotted screws on the gearcase, refill the gearbox by slowly pumping the new marine outboard gear oil into the lower screw hole to avoid creating air bubbles or air pockets. On the subject of oil, use TC-W3 oil and a minimum fuel mix ratio of 16/1 in the powerhead for good lubrication.
P.S. Nice find!!! That motor looks to be in wonderful condition!