Early MacBook Pro Boot Loop - recovery or safe mode don't work

Hi,

So my MacBook Pro is stuck in a boot loop.

It will attempt to boot but at about 60-70% a bar of corrupt graphic runs across the screen (pic attached).

I have tried the following:

Hold shift at startup - safe mode:

Shows the progress bar but at about 60% it just goes to blank white screen and I have to force shutdown.

Command-D diagnostics:

Runs all checks and comes back as all fine.

Option - boot select:

Tried installing from an install USB. Same thing, 60% then white screen. If left, the processor fan slowly speeds up as if it's overheating.

Remove HDD- try boot from USB only:

Exactly the same

Command-option-p-r: reset PRAM:

No change

Command-R recovery mode:

Asks for wifi, shows progress bar under rotating world icon, but goes to apple logo with whirling circle, then black for a second and then white screen after the bar completes, fan speeds up and does nothing.

Remove RAM sticks one at a time and trying them in different slots. Same result, but if I start it with only one RAM stick in the slot at the bottom it beeps 3 times (memory error I presume).

I am able to access console mode, but have no idea what I'm looking at.

Am I right in thinking that early 2011 MacBook Pro's have issues with the GPU's? I'd read somewhere that Apple are replacing them.

Is there a way to identify the fault?