Hello Royboy_62;
Probably not. The 'recovery disk' just boots from the CD and has enough software tools to access the hidden partition on the original hard disk. It's not a complete installation DVD like you'd need for a clean install onto a new hard drive.
Is the old hard drive running?
There is software that can pull the windows license key from your current installation if it's still running. http
/www.magicaljellybean.com/keyfinder/