That might be the sound of a couple of "bad blocks" on the drive. You should back-up what's on there right away if you need to.
If you haven't already, verify the disk with Disk Utility and see if it checks out as OK. DU doesn't detect a lot of problems, however...bad blocks being one.
Being on USB, the S.M.A.R.T. status can't be determined.
Do you have access to a Windows computer? If so, you could run Seagate's free "SeaTools" to check the drive and even repair bad blocks. SeaTools will check and can attempt repairs on any drive formatted, I think, in any manner. I had one making unexplained "activity" noises. SeaTools found two bad blocks and "repaired" them...no more noises, although I'm not sure I trust it now!
You could buy a third party Mac app to check the drive, but that could cost as much as a replacement drive.