errsize is my entire drive

Heya, Im trying to recover a 320gb hardrive using the ddrescue but it's saying that nothing is currently rescued and the errsize is 320gb with 1 error.

What does this mean exactly? is my drive beyond repair?

It is a drive that stopped working a few years ago and never got round to trying much in the way of fixing it. Now the drive will show up under system management but cant initialize due to an I/O error, so I thouhgt I'd check around can came across this.

Any help would be greatly appreciated.