Squealing when throttle full open

Have a 454 Merc Cruiser Big block. When at full throttle I get a squealing nosie from the engine, Almost like a loose belt on a car. When I back off the throttle a little it goes away. The belt seems tight and not lose. Baffled>>>>>Ironically, I damaged my prop prior to hearing this squealing, minor damage Burrs. Could this be the cause of the squealing????

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