It may return after 1 day. If you use its (daily) charges up it will then disappear from the quickslot until it has recharged itself. Not too sure on the rings uses/recharge times as I threw it away as I didn't rate it much. I'm going through solo and magicless bar potions, rings and amulets with a plain fighter,thief. Rings and necklaces being used for defensive/protective purposes as opposed to offensive.
You could use potions to protect yourself and beef up your stat's and then just hack away at it.....it'll go.
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