Sea Foam, as good as it is, may help clean the system but if it is as clogged up with sludge as it sounds, you have to get that crap out. Sea Foam will wash more of it down into the pan and is better used as a maintenance product on a good engine to keep it clean. Not to be the barer of bad news, but be prepared, that 24 year old engine has a lot of wear and using a product like Sea Foam may clean it better than you want. In other words their are a lot of parts that have a glaze built up on them, like cylinder walls and other moving parts, and using a product that cleans all that stuff off can leave you, at best, with an oil burner. It has probably been nursed along for years using some sort of engine medic to quiet it down, stop lifter noise, etc.
If you pull the valve cover, (driver side is the easiest for just taking a look), you will probably find it caked with gritty crap and the drain hole nearly plugged. Rather than washing that stuff down into the oil pan along with the stuff that is already there, clear the drain hole and then plug it and clean out the crap around the lifters first. Also, you need to do something with the crap in the oil pan, ( not that easy of a job to remove but doable).
The lifter noise is probably from worn rocker arm ends and worn valve stem caps. You can change them including the lifters, rods and oil seals without removing the heads. If you decide to do that, I'll give you the procedure. However, the best thing for that engine though, is probably to yank it and do a rebuild or replace it with a long block. If you do decide to go that route, don't buy a re-manufactured block from one of the chain parts stores. Get it from a reputable re-builder.
Good luck,
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