No, that wouldn't extend the life of a normal HDD. A normal HDD is mechanical and anything mechanical will fail. The platters are spinning and the read/write head is always moving back and forth, no matter if you have part of the drive used or "quarantined" or not.
The nature of HDD's is their space gets re-used; they're a magnetic medium so its just manipulations of that magnetic data. Flash based media, however, have a limited read-write amount and can die much quicker than a normal HDD because of this.
The drive is always being reused. When you delete a file, that space is just made available for re-use, and isn't overwritten until a new file uses that previously occupied space. Hence why there are programs like Killdisk, DBAN, etc to write 0's to the entire drive with multiple passes.