The big 8EL flathead had hydraulic lifters. Likely that the tapping is coming from a lifter not holding up as the engine warms and the oil thins. Take a very long screwdriver or metal bar and touch the metal end to the head near the top (over the valves) and hold the other end to your ear. Move from cylinder to cylinder. You will find the cylinder with the noisy lifter. You may even be able to determine intake or exhaust valve, depending on which side of the cylinder produces the loudest tapping.