Kernel Panic old Macbook 6,1 Snow Leopard 10.6

Suddenly my macbook wont boot anymore and I see kernel panic error.

I'm now trying to run the full apple hardware test, the short one didn't cause any problems.

I cannot copy/paste the kernel panic so I'm trying to type it over.

panic(cpu 1 caller 0x47f5ad): "Process 1 exec of /sbin/launchd failed, errno 85\n"@/SourceCache/xnu/xnu-1504.15.3/bsd/kern/kern_exec.c:3145

Debugger called: <panic>

Backtrace (CPU 1), Frame : Return Address (4 potential args on stack)

0x32053e48 : 0x21b837 (0x5dd7fc 0x32053e7c 0x223ce1 0x0)

0x32053e98 : 0x47f5ad (0x5cf950 0x831c08 0x55 0x0)

0x32053ef8 : 0x4696d2 (0x5da9d20 0x1fe 0x59b2dc0 0x80000001)

0x32053f38 : 0x48fee5 (0x5a4b7a8 0x0 0x5a507a8 0x863ea0)

0x32053f68 : 0x219432 (0x5a4b7a8 0xffffff7f 0x32053fc8 0x3202e6)

0x32053fa8 : 0x2aabc4 (0xffffffff 0x1 0x22f8f5 0x2b84e000)

0x32053fc8 : 0x2a1976 (0x0 0x0 0x2a17ab 0x5454fc0)

BSD process name corresponding to current thread: init

Mac OS version:

Not yet set

Kernel version:

Darwin Kernel Version 10.8.0:Tue Jun 7 16:33:36 PM (rest I cannot see)

System model name: MacBook6,1 (Mac-F22C8AC8)

System uptime in nanoseconds: 219766805675