Engine shock-absorber noise

[BnObob]

I have been hearing a small roughness in the 1989 M103 engine. And so I got out the trusty stethoscope and probed around. While I heard some clicking, like valve lifters/rockers, and water sounds, I also heard a very loud 'banging' at the top of a device that looks like a small shock absorber, on the driver's side at the front of the engine. The top of this device is held in place between two approx. 1/8" plates. While there is some noise transmitting through the plates, the loud repetitive banging comes from the top round mount of this device. (It is located between cylinder #1 and the water pump.)

I don't like niose. Is this normal? Is the rubber mount/sleeve gone and needs replacing? Or is this noise just a manifestation of some internal engine noise and
just being transmitted to this shock-device ?