1939 Mercury w/ 59ab-engine ticking

The higher than normal compression figures leads me to predict that once the intake is off, you will find a set of adjustable lifters. It seems that some of the later ones have a tendency to loosen up by themselves.

It will be interesting to see what you find.

Well you were right, they are adjustable. I still have to check the adjustment of the valves but I found that the sheetmetal cover is very loose that goes on the middle tube in the valley. It looks like a rivet holds it on? Is there a way to tighten it up? I’m not sure if this could be the issue?
Here’s a video of the rattle it creates.
https://youtube.com/shorts/GK8sOz0WMag?si=EyoMarZQMFxEPo9w
 
Believe the sheet metal pieces snap over the tube. That won't be the rattle...bet it's adjustment of several valves.
 
That should help! :) Hopefully the adjusters are tight enough that they're not backing off on their own. It can be a problem.
 
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