Mapped drive for Microsoft SQL Server 2008
I've got explanation ( tricky ). Maybe someone could get use of it:

Administrator might set maximum number of connections from one account to external resources ( in this example - drive ). When the number of connections is reached, You don't have access to it ( and from SSMS it is not visible ).

Recommendation:

Check, using for example sp_who, do You have any sleeping processes on Database Engine Service Account. That requests could hang on external resources, and block access for other requests.