I had a 99 Camaro SS with a similar issue. Turned out to be the notorious piston slap issue with the LS1 engines. Here is a GM notice for our trucks. Could be you have the starter issue, however this could also be part of the problem...I would probably have your dealer check it out, maybe mention this tech. brief # when you go.
TSB #02-06-01-038
Engine Knock or Lifter Noise (Replace O-Ring) #02-06-01-038 - (12/02/2002)
Engine Knock or Lifter Noise (Replace O-Ring)
2001-2002 Chevrolet Camaro
2001-2003 Chevrolet Corvette
2001-2002 Pontiac Firebird
2002-2003 Cadillac Escalade, Escalade EXT
2000-2003 Chevrolet Suburban, Tahoe
2001-2003 Chevrolet Silverado
2002-2003 Chevrolet Avalanche
2000-2003 GMC Yukon, Yukon XL
2001-2003 GMC Sierra
with 4.8L, 5.3L, 5.7L or 6.0L V8 Engine (VINs V, T, Z, G, S, N, U -- RPOs LR4, LM7, L59, LS1, LS6, LQ9, LQ4)
Condition
Some customers may comment on an engine tick noise. The distinguishing characteristic of this condition is that it likely will have been present since new, and is typically noticed within the first 161-322 km (100-200 mi). The noise may often be diagnosed as a collapsed lifter. Additionally, the noise may be present at cold start and appear to diminish and then return as the engine warms to operating temperature. This noise is different from other noises that may begin to occur at 3219-4828 km (2000-3000 mi).
Cause
The O-ring seal between the oil pump screen and the oil pump may be cut, causing aeration of the oil.
Correction
Inspect the O-ring seal and replace as necessary. Use the applicable part number listed below. Refer to the Engine Mechanical sub-section of the appropriate Service Manual.
Parts Information
Part Number
Description
Qty
12557752
Seal-O/Pmp (O-ring)
(F and Y Cars)
1
12563963
Seal-O/Pmp (O-ring)
(C/K Trucks)
1
Parts are currently available from GMSPO.
Warranty Information
For vehicles repaired under warranty, use:
Labor Operation
Description
Usage
Labor Time
J1060
Pickup Tube and Screen - Replace
F Car
3.7 hrs
Y Car
4.3 hrs
C Truck
1.3 hrs
K Truck
2.1 hrs
GM bulletins are intended for use by professional technicians, NOT a "do-it-yourselfer". They are written to inform these technicians of conditions that may occur on some vehicles, or to provide information that could assist in the proper service of a vehicle. Properly trained technicians have the equipment, tools, safety instructions, and know-how to do a job properly and safely. If a condition is described, DO NOT assume that the bulletin applies to your vehicle, or that your vehicle will have that condition. See your GM dealer for information on whether your vehicle may benefit from the information. WE SUPPORT VOLUNTARY TECHNICIAN CERTIFICATION
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Hope this information helps. Let us know what you find out.
-Brian