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hmmmm...i'm guessing it could be a rocker arm tick? I wish I could record it. I think I keep hearing it while driving, even when warm. I'm not sure, but I listen hard to see, I could be paranoid. I heard it when it was cold. It's a light tick, but it's consistant...ticktickticktick....i've heard people say "like a baseball card on a spoke", but I don't think it matches that sound.
"Valve Knock" was what I heard....Seafoam was a potential fix....not so sure...
If its a light tapping sound from the upper portion of the engine, then you have a lifter that isn't pressurizing. Most of the time, this will go away within a few seconds. If not and it takes longer, there are several possibilities. First, look for needle bearings coming out with the oil as there is a possibility that a rocker arm side bearing holder, whatever its called, has opened up, therefore the bearings have fallen out. Might need new rockers in that case. Another is the lifter itself may have worn out, but that usually happens with high mileage engines and will require head removal to replace them. There are lots of other possibilities of course but those are the usual.
What you may be hearing is piston slap. "Not the piston rings, it's the piston to bore clearance, cold. One difficuty with multi-metal engines is the coefficient of expansion between the different parts. An LS1 has an aluminum block with pressed in steel liners. Aluminum expands much more quickly than steel causing the bores to go out of round when cold. All is equalized, and square when at operating temp. The lesson here is, be easy on your car when first started, and allow it to warm up gradually before hitting the hammer hard. I do this with all my cars, especially in winter. If you follow this precaution, I doubt you will ever have a problem."