It sounds like "lifter tick" to me. I believe that the 626 has hydraulic lifters, and over time the get gummed up and oil isn't able to get into them as well as before. It's possible to remove and clean them but that involves removing the valve cover. I know a lot of people in the Miata community (which have similar engines) find that other than the sound there isn't really a problem and just live with it. I'm less sure about that for the 626.
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