Access denied to shares residing on volumes other than C:

I have tried this from three different virtual machines running on vSphere 5.0 with the same results. All disks are Virtual Disks as provided by ESXi (not iSCSI; not NFS). All disks (C:, E:) are formatted as NTFS.

If I create a folder on the C: and share it to Everyone:FC I can access it from a client PC as expected. It's a totally normal operation. I'm not doing anything interesting with permissions or anything. If I do the same exact thing on the E: I will get an Access Denied error when trying to access the folder.

If I browse to the server itself I can see both shares but I am blocked from accessing the share that resides on the E:. I've even tried adding a 3rd disk (F:) but I get the same result. The only place shares work is from C:.

The Effective Access tool even states that my user should have access. But no. I do not (neither does any other user because the permissions are Everyone:FC).

Server has all the latest patches available. No antivirus is installed. I've ever tried turning off the firewall just in case.

UPDATE: As requested. Here are some example events from the security log.

Success event on C:\OTHER share (this one works) A handle to an object was requested.

Subject:
    Security ID:     SYSTEM
    Account Name:    FILES-01$
    Account Domain:  domain
    Logon ID:        0x3E7

Object:
    Object Server:   Security
    Object Type:     File
    Object Name:     C:\OTHER
    Handle ID:       0x1248
    Resource Attributes:    -

Process Information:
    Process ID:        0x3d0
    Process Name:        C:\Windows\System32\svchost.exe

Access Request Information:
    Transaction ID:        {00000000-0000-0000-0000-000000000000}
    Accesses:        SYNCHRONIZE
                ReadAttributes

    Access Reasons:        SYNCHRONIZE:    Granted by    D:(A;OICIID;FA;;;SY)
                ReadAttributes:    Granted by    D:(A;OICIID;FA;;;SY)

    Access Mask:        0x100080
    Privileges Used for Access Check:    -
    Restricted SID Count:    0

Failure event on E:\TEST (opposite of working)

A handle to an object was requested.

Subject:
    Security ID:        domain\myusername
    Account Name:        myusername
    Account Domain:        DOMAIN
    Logon ID:        0x1D8C46

Object:
    Object Server:        WS-Management Listener
    Object Type:        Unknown
    Object Name:        Unknown
    Handle ID:        0x0
    Resource Attributes:    -

Process Information:
    Process ID:        0x2c8
    Process Name:        C:\Windows\System32\svchost.exe

Access Request Information:
    Transaction ID:        {00000000-0000-0000-0000-000000000000}
    Accesses:        MAX_ALLOWED

    Access Reasons:        -
    Access Mask:        0x2000000
    Privileges Used for Access Check:    -
    Restricted SID Count:    0