Ok. Its pretty unusual for the chain to be sitting slack like that then, so something may well have failed on that side.
I would pull the tensioners and inspect them before buying replacements though, just to understand what is going on. Do you have the tensioner compressor tool? If not I can send you one. New pads and tensioners do come with the tool, but thats not helpful if you want to pull them before buying new bits
A regular ticking is usually a lazy tappet yes. They often come back with an oil change and some heat in the engine.