I would guess there are 3 sheer bolts, one for each side of the auger, and one for the impeller.
If the gearbox is spinning, at least one of those 3 pieces should be spinning as well unless you managed to sheer all 3? How do you know the gearbox is spinning?
Some of the older ones had a gearbox where the input attaches, in addition to the gerabox on the auger, is that the box your talking about, if so something must be bad inside.
Let us know if its an older chest freezer 47 or a newer quick hitch one.