WOAH!!!!!!!! I GOT IT!
Ok. Here's the scoop. To recap, the symptom I encountered was when I mounted a PGP Disk after entering the passphrase, I attempt to open the location and get an error message that reads, "Location is not available: The file or directory is corrupted and unreadable." Originally, I was mounting to a folder location. So after a few panic attacks and getting ideas throughout this thread, I've now mounted the PGP disk to a virtual drive letter. Now, I've done this previously and still got the same error message. HOWEVER!!!!!! Now what I've done is run data recovery software on this virtual disk. (Not sure if I can mention the software as a reference)
I RECOVERED EVERYTHING!!!!!!!!!!!!!!!!!!!!!!
Tom, thanks for bouncing ideas back and forth with me. Now I'm going to create a new PGP disk and continue to back that one up!