If the raw water inlet of the TSTAT housing and the hose going to the exhaust manifold are sealed properly for the test, you should not be getting pressure loss unless you have a leak or a cracked block.
I don't know the recommended PSI amount suggested.
The most common place for the inline 4 3.0L to crack is on the port side of the engine where the manifold is. It cracks right below where the engine head and block meet, near the casting plugs.
It's rather easy damage to spot/find if one takes off the exhaust/intake manifold.