Noise from water pump area?

[les]

Remove distributor, feel for any lateral movement between the shaft and its bush, if minimal just make sure it is oiled. If it is very worn, either new bush or probably easier, another distributor housing. The gear that meshes with the camshaft can be renewed but unless the cam is also replaced I don't think you will gain much, as gears tend to wear into one another over time. you could of course check that the gear teeth are ok.