Blessed
Uses Remaining: 20
Mining +10
Physical Damage 100%
Weapon Damage 13 - 15
Weapon Speed 3s
Strength Requirement 50
One-Handed Weapon
Skill Required: Swordsmanship
Jacob's Pickaxe can be obtained by completing the new player quest, The Delucian's Lost Mine, which is started by talking to Jacob Waltz the Mining Instructor. He can be found in a camp at the southern mountains of New Haven.
Though the pickaxe has but 20 uses, it will regain about one charge every five minutes.
Note that Gloves of Mining can be used to take your total skill above 100, but not if you have Jacob's Pickaxe equipped.