I was wondering if it was possible to make a projectile drop and item to make a reusable throwable item.
If you mean basically like a Throwing Dagger that spawns a dagger on hit, should be possible. Its been ages since I modded this game but I do believe Projectiles do have some script properties for on hit actions.
Code: "actionOnReap" : [ { "action" : "item", "name" : "item_name" } ] Just put that in your projectile file and change item_name to whatever item you need to drop