Molten Pickaxe

The Molten Pickaxe is a pickaxe, being a tier above the Nightmare Pickaxe and a tier below the Cobalt Drill. It emits an area of light around the player while in use, it is also the only mining tool to do so. It is the best pickaxe the player can obtain before defeating the Wall of Flesh.

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Stats
One hit destroys at about 3.2 blocks a second: Two hits destroy at about 2.6 blocks a second: Its knockback makes it inefficient for fighting monsters but will do if the need arises. It can keep meteor heads, slimes, and zombies away from hitting you.
 * Dirt
 * Mud
 * Stone
 * Copper
 * Iron
 * Silver
 * Gold
 * Ash
 * Obsidian
 * Grass
 * Hellstone
 * Meteorite
 * Ebonstone
 * Dungeon Bricks
 * Cobalt Ore

Trivia

 * Originally, the Molten Pickaxe was made from Meteorite Bars, and was still the highest tier pickaxe. However it belonged to the Meteorite Tier. Hellstone Bars were not craftable yet and the Underworld existed but was pointless (except for money). However, this was in the Alpha version, and has been changed now.
 * The Molten Pickaxe has a 1 in 10 chance to set enemies On Fire. On Fire does approximately 2 damage per second.