What Conan suggests seems like the logical option. Though below are somethings you can try.

http://support.microsoft.com/default...EN-US;Q141117&

There is a notice about the error you are receiving. It would seem that your drive is messed up, though it could mean that you just lost all the data on the drive and you have to reformat...

If you dont mind losing the data, simply right click the drive and hit the format. Choose NTFS and it should work for you.

If the data is worth more than 1000 US, I would recommend a professional data recovery option. If not, reformat then get to collecting new data.

ANd welcome to techzonez.
BB