Valve problems...help!

I have an '86 GT with about 150,000 miles on it. It uses oil (quite a bit), but it hasn't gotten worse in the past couple of years.

Lately, the valves have started rattling or pinging a lot. Like when I pull out or put the motor under a load. I set the timing down a little, but is there anything I can do to help this? I know I need to rebuild the motor, but I can't afford to do so right now. I need to make this one last as long as I can.

Would adding a catch can for the oil help? Is it an octane issue (I've tried a higher octane and it doesn't help) or detonation?

TTT

ninety15.0 said:

The only think i can think of if you are suddenly getting detonation is check your timing. perhaps the dizzy hold down nut has come loose and the timing has run a muck.

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Oddly enough, I've checked that. Set the timing back to 10. Still does it.

Could oil be getting sucked into the intake causing this? Anything I can do to help until I can rebuild the engine this winter?