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Message: <blockquote data-quote="leearnold.1122" data-source="post: 1524053" data-attributes="member: 29017">I believe it could be "VERY SERIOUS"!!!I had a similar noise in my '04 mach 1 that wound up being a big mess. It was the two piece timing gear on the crank. The front gear drives the passenger side cam gears and rear drives the drivers side. Well the rear gear was wearing the keyway loose and causing the tapping noise I heard in my engine. (This was due to a poor design from Ford on making the two piece gear. The new replacement is a one piece.) Everyone said "it's no big deal". Most experts would say " it's the timing chain tensioner". I listened to them and it cost me two weeks down and I had to replace my drivers side valves due to them getting bent when the rear gear finally gave way in Knoxville TN, when I was on my way to Chattanooga TN. The tow bill was $450 to Chattanooga then another $750 to the machine shop. Bottom line is I would pull the front cover off and check everything out. You'll have the valve covers off and can see pretty much everything except the bottom end but I don't believe it's deep enough to be the bottom end.Just a note If you need to replace the crank gear which I would if it's a two piece mach 1:  Make sure you have the correct one piece crank gear. They make two because the crank wheel comes in two different thicknesses. Therefore the two different depths for the gear for clearance.I really need to hear it better. I'm just saying it could be serious.</blockquote>