Mitsubishi Repair: valve/lifter ticking, timing belt tensioner, worst case scenario

Question
I have a 94 expo w/1.8L. Sounds like lifters or valves hitting pistons. when i pulled the timing cover i noticed the left side silent shaft belt had skipped a tooth, but the cam and crank belt was good. what kind of damage can be done by this? can this be why i have this ticking noise.

Answer
Donald,
The worst case scenario about having the silent shaft break is that the broken belt would wrap against the timing belt and break it.  Typically if the timing belt was off by even a couple teeth, the cam angle sensor would prevent the engine from running all together.  Lifter chatter is fairly common in older Mitsubishis.  They had small oil passages and chattering was a result.  Sometimes a good engine flush would help remedy that.  

When you have your silent shaft belt replaced, be sure to also have your main timing belt, tensioner, and any other ancillary parts replaced as well.  
Good luck!