you'll need to do more than just pop the valve cover. you'll have to drain the coolant, pull the thermostat housing, pull the crank pulley, and pull the upper and lower timing covers. there are three guides that this will reveal. the one that is operated by the tensioner, a long one on the drivers side, and a small, curved one below the crankshaft sprocket. On my car that lower one had broken into two pieces and the pieces would occasionally pop up and hit the chain and make an unappealing sound. but any of those three guides could cause the noise if they're excessively worn or chipped/broken/missing a mounting bolt.
Also, it is conceivable that the AC compressor could cause a bad sound. try removing the AC belt so the compressor doesn't drive, and see if that stops the noise.