Can any of you guys pinpoint where the ticking is coming from on the engine?
It could be a solenoid in the emissions system that you are hearing as it is cycling. On my soon to be former vehicle, there is a solenoid right by the power brake booster that makes a very audible ticking noise. It sounds exactly like a lifter click. I went around the engine compartment with a long handled screwdriver, and used it as a stethoscope to locate the source of the ticking. When I put the screwdriver on the mentioned solenoid, you could feel the ticking as well as clearly hear it.
Just a thought.