GB, if there is an issue with your gearbox shaft bearing, I can't imagine how you'd have metal from that in the primary, unless as a result of maybe the clutch slapping around a bit of the sleeve gear bush... unlikely to do it suddenly though. ?. ...I had a maybe similar sound a while ago that turned out to be the chain scraping on a bit of the chainguard ....
Only thing I can think of for the loose chain, is either rapid wear, or maybe have you lost one of the little adjuster screws that push and hold the axle back...?
(A bit edited)