No, there's only one sort of mounted. Everything in Devs/DOSDrivers will get mounted during the boot sequence, just as the printers, datatypes, keymaps, monitors do etc. Which leads us perfectly down the path towards Storage. Storage is where you keep those unwanted keymaps, printer drivers, DOSDrivers (like RAD) and monitor drivers. You see, if they're in Storage you'd have to click on that RAD to mount it, or that printer, or monitor driver. I hope this helps!
So CF0 is mounted, that's good. Run CardReset, and if the card is fat formatted it should show up. If nothing shows up, run the Format program in System, and Quick Format CF0.
That noise... that was the sound of the disk motor bearings straining in your CF card from that Full Format you subjected it to.