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You Got Hydraulic lifters. (buckets) They are normally kinda loud, ticking. Add an extra 1/2 qt oil above the top line and it helps alot. If it's been run really hard you may have a crack lifter head. Like a Broken Drum.
I think Lindsey Racing has a Head Swap/rebuild program if it's done. Probably under $1500.
Those after market chips often make it run richer. Swap chips to double check that it is not the only problem.
Search and do the standard Rich to lean problem solutions.... O2 sensor, Air Flow Meter (AFM), Fuel pressure Regulator..
Should get you started.
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1987 924S with 968 Drive front to back, Bilstein Insert on mod/stock Struts, 450# Hypercoils, 28mm Torsion Bars, Weltmeister Adjustable Sway Bars, Lindsey 968 Light flywheel, Spec Stage II Clutch, ToYO RA1's, Auto Power Cage & 6 pt Harness, KLA Strut Brace, Greasy hands, heavy foot, and lots of smiles
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