Tree jizz.
Trizz.
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Tree jizz.
Trizz.
This made me moist.
Tree moist.
Troist.
LMFAO!
It's a really neat occurrence but could be an indicator of other injuries, particularly if you have Eastern Ash Borer in your area. Depending on where the tree is located in relation to structures and your observations of the rest of the tree, it may be worth having an arborist consultation. If you decide to go that route, I'd encourage you to hire a consulting arborist rather than an arborist who will profit from the cut (doubly so if you're fond of it).
Tl;dr super cool, be safe
My linden tree does this too. I was worried about bacterial flux. Had two different arborists come and both shrugged at it. 🤷♂️