The second item within the treasure chest was a frigid tourmaline, a gemstone with high levels of ice aspected mana and worth a pretty penny. A very valuable drop likely caused by the high levels of mana brought on from the looming monster stampede.
Elemental gemstones such as the frigid tourmaline before Frost are considered magical oddities similar to Frost's high rank earth grade cold flame but of the mortal rank. They're filled with ice aspected mana and in the hands of a skilled craftsmen can be fused to equipment to enhance one's resistance to the gem's element.