From that picture I'd say he shot a sheep.[8D][8D]

Aside from that, it's hard to say. There's a lot you can hit that'll produce a lot of blood as long as it keeps moving. If it stops it has time to clot up and may not start again. They also tend to run out of blood with these periferal shots just before they drop for good. I would go to the last spot and do a grid search for about 75 yards if you can't find any more blood. Without more info as to angle and all that it's hard to say. Muscles can bleed like crazy for a while, so can noses, broken jaws etc.