recently my old L03 has been making a fairly loud ticking noise while idling and at low rpm (turns into more of a grinding sound >3000 rpm)

it's not there all the time, sometimes is there when I first start then goes away as it warms up, other times it gets worse as it warms up, pretty random

the engine has had low oil pressure for a while now (fine when cold but drops once warmed up), rod bearings are toast? Or is a ticking noise usually something in the valvetrain

the motor is bone stock except for open element, ultimate tbi mods, I don't have a whole lot of money right now I just want to keep my car running for as long as possible, or at least until I can go to a boneyard and buy a motor and rebuild it

suggestions?

 

How low is the oil pressure dropping when it warms up?

 

once it's warm it's almost zero at idle, about 15-20psi above 2000rpm

I get a solid 25psi at 1200rpm on cold start though