Do you have an oscilloscope?
The voltages you measured before don't quite add up - unless you're operating from a battery that's discharging the whole time you're experimenting.
What do you measure from ground to the source of M1, ground to drain of M1, gate of M1, and then the low side of L1?
From your prior measurements, I'm suspecting that perhaps M1 is turning on only partway, but I need more info to be certain.
The voltages you measured before don't quite add up - unless you're operating from a battery that's discharging the whole time you're experimenting.
What do you measure from ground to the source of M1, ground to drain of M1, gate of M1, and then the low side of L1?
From your prior measurements, I'm suspecting that perhaps M1 is turning on only partway, but I need more info to be certain.