An by the by - it's an overhead cam, so it can't be lifters as it doesn't have any. lol. Just throwing that out there from the comments above.

 

Actually, it's got lifters, and they probably are ticking. The over head cam design just means that it doesn't have pushrods. I've already replaced the exhaust manifold bolts on the passenger side of my 02 4x4 Sport, and it made a huge improvement. The bolts shearing is a common problem with the 4.7, and I found the telltale scorch mark next to the manifold flange by the rear-most cylinder. Thankfully, the remains of the broken bolts came out with minimal effort and didn't require drilling.

My lifter noise comes and goes (more likely when the engine is cold), and seems to nearly disappear when I use a friction-reducing additive with my synthetic blend oil changes.

 

You'r lucky your broken bolts came out. I had one broken off at the heead of the bolt and one broke off at the block. That one wouldn't budge so I had to jack up the engine so I could get at the bolt at the right angle to drill it out and retap it, what a job.

 

About the ticking, I'll take it into school and I'll use the stethoscope and get advice from the teachers. Hopefully it's nothing more serious then lifters.

 

My 2001 did it from brand new, so does my 2002 now. Same goes for many other brands I own or previously owned, including GMC, Mazda, Mercedes, BMW, etc. Its the trade off of having hydraulic lifters. No more valve adjustments, but they can get noisy when cold.