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Found it in the Ottawa (near Petawawa) if it wasn't for the ring I'd swear it was a dagger, can't find any type of old logging equipment that resembles anything close to this, now it's your turn!
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I wonder if it isn't a plumb bob (ie. Making a plumb line in construction). The string would have been attached at the ring.
M
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It does resemble a plumb bob, and it could be, but the ring is so big, and typically those are generally symmetrical so they can spin. It looks to me like something you'd hammer into a tree or a log so you can tie a line to it. (And then it slips out of your hand falls in the water, and you utilize your best tool - foul language)
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I would say it is a "dog" which was driven into a log to secure it to a rope attached to the ring. Possibly part of a small boom. Large booms would have been held together by chains.
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Here's your answer, I think.
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Found in an undated (right side up) Thomas Pink of Pembroke catalogue.
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