350 SLC Timing Chain Slack

My '75 350 slc Euro lost power and started making a horrible clacking noise. I checked compression. cylinders 1 thru 4 175PSI 5=0 PSI 6 PSI 7&8=0 PSI.
Removed the valve cover to find a considerable bit of chain slack.
Is the 350 V8 an Intereference engine? If so, is it possible that I just skipped a tooth or 2 and didn't damage valves?
Can anyone explain cylinder 6 having some compression while 5, 7, & 8 have None?
Where should I go from here?
Thanks for any help.
-Conrad
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You bent some valves on the left head. Bill Ditmire Ditmire Motorworks,Inc. 425 White Horse Pike Absecon,NJ 08201 http://www.ditmire.com 609-641-3392
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