Finely Sanded Shaft  

This item starts the quest 'The Unfinished Pick'. Quest is level 20, and requires you to slay giants in Thundering Steppes untill you get the pickaxe head - other steps follow, but I do not know them.
Quest reward is the Giant Pick-Axe : +7 str +2 agi +15 health +17 power , dual-wield slashing, damage 5-15, delay 1.5 seconds, dmg rating 13.0, can be used at level 19 by scout, berserker, guardian, paladin, shadowknight