Thanks for choosing FixYa and welcome. That is possible. More then likely, it is a associated with the valve lifter. If it was a rod, you would hear a knocking sound compared to the ticking sounds a bad lifter gives off. As far as which lifter it is, the only way to know for sure if by taking off the valve cover and examining the lifters. You are in the right area though. Check your lifters and you should fine what is causing the ticking. Put all your focus on that area. Your friend sounds like he knows what he is talking about so he may be able to help you work on it if you are not able.
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