89 Grand Am Quad 4 Timing chain...

Greetings,

I don't know if this is the best place for a Pontiac question...

I've got the famous transitional year-model '89 with the imfamous
Quad-4 engine. I guess they usually blow the head gasket at about
60k miles and are very expensive to fix at that point. I've been
babying it.

Recently it was about 10 below (F) and I started it and there was
major chain noise, definitely from the timing chain or gear area,
I think it has timing gears (?) Also I see oil press is low and
check gadges is flashing. Might be because I just blew another
rusty brake line.

Anybody have any insight into this situation?
The car is rusty, I don't intend to fix a head gasket problem really
(it's is supposed to require a laser guided mill to do it right due
to the tolerances of the aluminum head/iron block design)...
I don't know how much it'll cost to fix the timing gear, Maybie I'll
get it running, sell it cheap. Or just junk it.

thanks,
p