Check to make sure that the bolts which hold the camshaft thrust plate to the block are in place. If they are missing, I would suspect it would make a noise like that as the flange if that bearing was free-spinning.
You access them through the holes in the camshaft. You will need to manually turn the engine over until the holes line up with the bots. I believe that they take a large Phillips head screwdriver.

Last edited by 52Carl; 08/17/2020 3:46 AM.

1952 5-window - return to "as built" condition | 1950 3100 with a 235 and a T-5 transmission