My Seagate 3TB GoFlex back up will not mount. Is this a Mavericks issue?

My 3TB Seagate GoFlex Desk is used as my Macbook Air back up and worked perfectly until today. However now it will not mount and when i go to repair disk i am told it cannot be repaired and must be reformatted, thereby losing all data.

I have now read all over the web and on these forums that there are multiple instances of problems like this. Can anyone provide me with information on what I can do to recover my data? There is lots of debate but no obvious solution....