[Free88]

Problem solved. The motor was rebuilt a while ago and fired up occasionally. It sat for a while and when the transfer was done the lifters must have bled down and we had to prime them again. We removed the valve covers and coated everything with oil. After readjusting the valves, we had good oil flow. The tick came a bent cover that goes over the harmonic balancer and was rubbing on the timing indicator. Engine runs great. Just a small detail that we overlooked. Knew definately that it was not valve train when we backed off the first lifter and learn that very distinctive wrap sound. After adjusting all lifters engine sounds great. Thanks.