Lenovo A560 stuck at boot

A friend just gave me a Lenovo A560 which won't boot at all. I can enter recovery mode, tried reseting with no use but it seems to have problems with mounting block devices.

Code:

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E:failed to mount block devices /dev/block/mmcblk1p1
E:remount block devices /dev/block/mmcblk1
E:failed to mount /sdcard (No such file or directory)
E:failed to mount block devices /dev/block/mmcblk1
E:remount block devices /dev/block/mmcblk1
E:failed to mount /sdcard (No such file or directory)
E:volume for path [/cache]

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Any help would be apreciated, I am willing to try any experiments to sort it out.

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