Never seen that before. Looks like a protective cover to conceal/protect the petcock. But usually the petcock/drain is located on the underside of the tank, with the drain opening facing the ground. However, it's entirely possible that it's the actual drain plug with an O-ring behind it, and if you loosen/remove it, all the coolant will flow out. Is it an aftermarket radiator? It's also possible that cover can be removed to access some kind of retaining mechnaism that needs to be released to allow detachment from that lower rubber bushing. However, typically it's the top bushings that are locked, and the lower bushings just receive a stem that sits into the hole.
The fins a few inches up from that cover-looking thing look very damaged, and I wonder if coolant is leaking from behind there and tracking down to that cover. Given the wetness higher up on the cover, it does seem like the leak is coming from there, but coolant tracks differently when the vehicle's in motion, so it's possible it's being swept up from the bottom area below that cover and spreading out.