Well that may have been premature, the noise is back and worse than ever. It only occurs on all gear combinations.
The small gear rings produce nicely defined clicking/popping noises while the high gears produce a squeaking noise.
I also noticed the squeaking noise only happens when pedalling on the right pedal and only in the 12 o'clock to 6'oclock range. The bike is still under warranty.
Should I bother investigating further or just get it exchanged.