I have a turbo that when i spin the compressor wheel It goses squeak squeak squeak like it is lacking lube is the turbo still good?

more info: it's a t3/4e garrett turbo I ran it on my stock 99Ls motor with stock exhaust for 10xxx miles. I took the turbo off because my car would blow black smoke only under boost, I figured that my head gasket or rings where going bad turns out they where. the turbo has bin sitting for 6months and when i took it of the car i just put rags in all the holes and put it in a box.

 

yeah probably lack of oiling, or freeplay in the shaft causing the wheel to rub on the housing.

 

there is no play in the shaft is it still good to go?