My HDD is a My passport... It's 2 weeks old. I hear this tick or click followed by another one about 8-9 secs later, and they repeat every minute almost exactly... They usually happen and the LED light blinking..
It's not like the other clicks you hear that indicate any inevitable HDD failure, it's much lower in volume. I don't know what that is, however it's different than the rest of the HDD usual sounds...It's close to the sound of the mouse click.
It sometimes also happens when I access a file on the drive mostly after being idle for a while, sometimes randomly not really sure...

The drive though is working well, the SMART report comes out OK and without warning, and disk management shows it healthy... Any idea what might that be??

Time to backup and get it back to the dealer and RMA it.

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Rescue IT Datarecovery service Sweden
Rescue IT Dataräddning Göteborg AB
http://www.rescue-it.se

Short idle timer setting? Observing the trend (over time) in the relevant SMART attribute, will prove or disprove this hypothesis.

my hdd does the same, when low power from USB comes, try the USB ports on the mainboard, or use an mini USB Y-plug