Probably time for a new drive. Given the age of the computer might even be time for a new computer.
Before that try zapping the PRAM by shutting down the computer then holding down Command-option-p-r keys when you boot. (yes you can) keep the keys down until you've heard the star-up chimes at least 3 or 4 times. The chances of this resolving the issue are next to nil but at least it's free.
Is your firmware up to date?
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