Before you go too crazy trouble shooting that noise just remove your drain plug on the engine I think you'll have your answer.

I hope that piece of metal isn't what it looks like.

It definitely looks like rod bearing. The sound sounds like rod knock.

Take off your sump plate and let us know what you find before you go any further.

Ok, when I get home this PM I'll be taking off the sump plate and oil drain plugs.

I'll let you know what I find.

Best of luck!

Subscribing to the thread so I'll watch for your replies...

That stuff gets EVERYWHERE. IN fact I think that's often the worst part of a failed bearing. it's not the rebuild, replacing the rod, checking the crank or any of that jazz. It's trying to get the 34,000,000,000 pieces of rod bearing material out of every crack, crevice, oil line, journal, galley, pump, and cooler in the system. BTDT, hated it.

Thanks cstreit, I think I'll need a lot of luck in this one!!!

Don't forget to open up the oil filter.

No sump plate on a 1985 Carrera, right?

Put a thin rag, old white one, inside the tub/container you drain your oil into. That way you can catch the bits and pieces of metal to evaluate the overall damage done, if any.

Let's hope there isn't any, but then again that "noice" doesn't sound promising.

From the pictures, it appears that the left idler arm, driver's side chain box, is hitting the top of the chain box. That may be the knocking noice and proof that the chain tensioner isn't getting fed much oil pressure. Also, I noticed the left chain box, driver's side, has a dark colored hue within the box itself where the right-side chain box, passenger's side, is cleaner. Shows signs that there is oil getting circulated there, but not on the other side.

Just an observation.

Good luck with this!

Yes it does.

So this guy's car has a 3.0L engine in it?

Sorry, but you have a rod bearing failure, and here's what it will look like when you crack the case open:

http://i109.photobucket.com/albums/n...s/100_0855.jpg
http://i109.photobucket.com/albums/n...s/100_0880.jpg
http://i109.photobucket.com/albums/n...s/100_0881.jpg
http://i109.photobucket.com/albums/n...s/100_0879.jpg
http://i109.photobucket.com/albums/n...s/100_0873.jpg
http://i109.photobucket.com/albums/n...s/100_0857.jpg

All 911s have sump plates. What they did away with was the drain plug on the sump plate so you have to remove the whole sump plate in those cases.

James, are you sure about the sum plate in my car?

My oil drain plug is the same as the one shown in this picture (from the Bentley manual):

http://forums.pelicanparts.com/uploa...1305733117.jpg

yes, no sump plate for you.

Wow!!! those pieces of metal in Zoa's first picture look like mine....I'm hoping for a miracle!!!

I couldn't work on the car last night, but will get on it today for sure.

Il take the oil out and filter it to see what I find. Also will open the filter as suggested by James.

Yep, sorry Max I didn't look at your car's year. Still, then drain the oil through a screen, and cut open your oil filter. I'm still hopeful that this is not it, but pretty sure you're going to find a mess. BTDT

The bearing parts are magnetic and stick to the drain plug. You'll know one way or another when you pull the plug.

Sorry. I was confused and therefore incorrect. Sorry if it caused any confusion.

Update
 

Ok, I pulled the oil drain plug, filtered the oil that came out, removed the oil filter and opened it.

Here are the pictures:

Drain plug and bits of metal that were in the oil:

http://forums.pelicanparts.com/uploa...1305772792.jpg
http://forums.pelicanparts.com/uploa...1305772880.jpg

Oil filter, the shiny spots are small pieces of metal:

http://forums.pelicanparts.com/uploa...1305772981.jpg

Looks like rod bearing failure, doesn't it?

Other will chime in but based on what you have found I would be stripping down that engine.

What's actually failed??? As others have suggested most likely a Rod Bearing but until you get her apart you won't know how bad it.
Hopefully not too much damage has been done internally.

Have you got some basic tools, jack and help if needed? Good luck with everything.