I'm pretty sure JoeR is talking about the part that is called "belt tensioner damper" in fastlane. there is a pic. check it out, then find it on your engine (lower left of upper timing cover). You should be able to (carefully, as it is close to fan) grab this damper and stop it from making noise, if it is in fact the problem. Mine makes a loud noise, but only when in rev. or drive, because of the extra load on the engine. This noise, in my opinion, is actually more of a rattling than a ticking, so it may not be your problem.

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headrivenoise... listen.