Well I got everything apart and inspected and I gotta say this one was text book all the way. The rod bushing came loose and was allowed to rotate thus the oil hole no longer lined up with the hole in the rod. Loss of lubricant lead to advance wear condition in the bushing.
I was diligant enough to get this one before something bad happened. I would advise anyone with a noise no matter how insignificant to check it out. Just as in my case a little tick turned out to be a serious problem and if left alone could have lead to engine failure eventually. The kit installed was a Tisco. The pistons have a rather large piston pin that requires a thin bushing rather than the thick one that may have been stock. Anyone doing a rebuild would be wise to pay close attention to this area. The rods are now at a shop where they might have to rebore the rod and install oversize bushings.
That little tick just might be something more!