I have a Micro Blast Racer and cured the noisey gears. You need to lube the metal pin that the spur(counter)gear spins on. Also lube the axle where it is supported by the chassis. If you do this to your Micro Blast Racer or any other micro car with a similar gear box , this will gauranteed bring the life out of the car! You will notice a big increase in performance! By the way I use Aero car lube designed for rc car bearings and bushings, but any similar lube should work.
DO NOT lube the gears themselves!