Pontiac Repair: Pontiac Quad 4 Ticking noise, one of the lucky ones, valve lifter

Question
Hello. I recently purchased a 1992 Grand-Am with the 2.3 Quad 4 OHC.
It has 168,000 kms on it, and for the past week has been quite quiet.
This morning, I started it up and there was a light ticking noise that was very apparent. It never went away, no matter how warm the engine got. It kinda of sounds like a rocker. It went faster the higher I revved the engine. I opened the hood and it sounds more like its coming from the passenger side, not the actual valve cover.
Right where the pulleys and alternator are.
I think I see the timing cover on this side, not sure if it's a belt or those God-awful timing sprockets.
Any ideas off the top of your head?
Is this engine known for this sort of thing?  

Answer
The quad 4 has a timing chain not a belt and the chain tensioner is hydraulic so it pumps up just like a valve lifter with oil pressure. There might be a speck of dirt preventing it from pumping up or the guides may be worn out considering the mileage. These engines were notorious for all sorts of gremlins and you are probably one of the lucky ones that it is just now starting to act up. The only way to know for certain is to have someone look at it to determine what it is. Hope this helps some.