First thing to do, be sure the tick really is a valve train noise.
When the noise is at it's worst, try pulling one plug wire at a time, see if that changes the sound. If the sound changes, goes away, or changes it's tune, chances are it is not valve noise. It could be a loose wrist pin or loose piston skirt to bore clearance.
If it is, don't panic. Unless it gets worse or the oil pressure drops, chances are it will run many years with no problems.
Also, try removing the fan belt, possibly there is something in the generator or water pump, or a slapping belt.
Another possibility, a chipped timing gear, or a piece of metal caught in a timing gear.
To check for valve train noise, remove the valve cover. Look everything over, look for a bent pushrod, broken valve spring, dry rocker bushing, etc. Start the engine and slip a .013" feeler gauge between each rocker and valve with it running. See if any feel loose or the sound goes away.
If this is a recent rebuild, or the head has been off, many times the valve train will settle in and need the valves adjusted again.
There are procedures for turning the engine to certain positions and setting certain valves. I prefer to remove the plugs, turn the engine through while using a feeler gauge, find the loosest position and set the valve lash there. Repeat with each valve. That way I KNOW the cam was on the base circle and not approaching a quieting ramp and giving a false reading.
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