no its just too little qpi/vtt?
try clearing the cmos by leaving out the mb battery for 5 minutes and then try
1.315v is well within intel safe limits,i ran my chip for 3years with that voltage just fine
max safe is 1.4v although ive seen plenty run much higher without any trouble
if you want some oc settings tell me what the cpu default voltage is whilst in the bios and cpu voltage set to normal,then I can give you some settings to try