Metal on metal sound

Forum: 

Charade 1985 1000cc
The car had a knocking sound,to repair this the crankshaft was cut replaced main & big end bearings to fit crankshaft,piston rings. Tested space of bearings with plastic gauge - within limits. The sound continued, thought it might be the
valves touching the pistons - fit spacer plate between top and block but it is still knocking. The overhead cam - cam's are not worn. Mark of valve timing is correct.It is not the tappets, are set to 0,2 as specified. The car is running ok,
don't know for how long.It sound like it is coming from the top.

Any idea's??