I was throwing a buzzbait on my 2 month old Pflueger Patriarch baitcaster yesterday and heard an alarming noise. I like to engage my reel right as the buzzbait hits the water to keep in on the surface from the time it hits the water. As I engaged the reel I heard a loud grinding noise. I went ahead and threw it a couple of more times and got the same noise on the last cast. I put the reel up and grabbed my Citica to continue fishing the buzzbait. I haven't oiled the Pflueger or done anything to it out of the box yet because it was basically brand new. My worry is a gear might be stripped out or something. Any ideas of what exactly to look for if I open it up? Also what brand/type of lubricant if any should I apply to the gears?

Lubing alone will not likely solve this problem. It sounds as if the clutch is not engaging properly. A deep cleaning and proper lubing may correct the problem is no damage has been done. You did the right thing by putting it up until it gets checked out. If it's new enough to be under warranty, return it. If not, you can send it in and we'll diagnose for you if you'd like.

I'd encourage you to stop the spool with your thumb and engage the reel quickly. Engaging the reel while the spool is spinning may have damaged the pinion/spool junction.