Need Help with external hard drive won't mount

I was doing an erase with zero out 1 time when the power went out. Now it won't mount and I get Disk Insertion error, "The disk you inserted was not readable by this computer." There are three options, initialize, ignore and eject and none of them do anything. Is there anything I can do or is it toast?

Using latest OS, 10.5.6. Drive is a Lacie 1TB connected via firewire 400

There might be a few bad sectors, but since the computer sees it and asks you what you wanna do, I would imagine it still works. Very strange that none of those options work though...have you tried formatting it with Disk Utility or with a different computer (maybe even with a different operating system)?

Thanks, I figured it out. The problem was that my mac is a MBP, so when the power went out it didn't shut down and the disk utility stayed open and running still showing the erased drive. Once I closed that and tried to plug in the drive it asked to initialize, so I did. Then disk utility opened and found the "new" drive. So it's all good. Except for the fact that the drive crapping out all the time. I was hoping for corrupt something on there that would be fixed by erasing it. But it's still doing the same thing.