Hey, it's Psycho here again!
In this guide I will be walking you through getting started in crafting. Hopefully by the end I will have done a good job with this guide and you will be able to craft your first piece of equipment without trouble.
First I will tell you how to acquire your mining equipment. Then using your mining equipment to locate and gather resources, as well as how to determine which resources you can get from a map. Then how to choose a crafting profession. I will end with using resources to craft a piece of equipment and how to determine which stats it can have.

If you have any questions you can PM me in-game, or comment on this guide and I will try my best to respond.
As always, please rate and comment as you see fit!

When you reach level 40 there will be a NPC in the bazaar with a quest. He will give you your first set of mining equipment as well as a quest to go and mine for the first time.
If you lose your mining equipment then you can buy another set from him. He also offers higher level mining drones.

After acquiring your mining gear you can head to one of the high level zones. For this guide I chose Feydal Quarry. Note that you get more resources from mining nodes on higher level maps. For example, Feydal Quarry nodes have 250 resources, while the nodes in the Tormented Marshes have 400 resources.

After arriving at Feydal Quarry, press the R key. This will deploy our Divining Compass.

In the red outline we have the Divining Compass. Note the direction the arrow points. This is the direction the 'ball of light' will go, and you will need to follow. You can deploy the Diving Compass by pressing the "R" key, or by pressing the button on your 'energy orb'.

In the green outline is the 'ball of light' you need to follow to find the resource node.
In the purple outline is the 'poof of light' that marks the location of the resource node.
In the yellow outline is the text that will pop up when you get close enough to the node that tells you what resource the node will be. In this case, Gold Ore. The resource will be random for each node you approach unless you found it previously and chose not to deplete it. Each resource type has 4 different resources. Each resource also comes in a random quality.
In the blue outline is the 'survey screen'. This pops up when you use the Diving Compass and shows you a breakdown of what resources the zone has. In the case of Feydal Quarry, it has minerals and elements. So when you enter a new zone you can use your Divining Compass to determine which resources you can get from it. As for the % next to them, I don't know. My guess is that a higher % equates to a better chance at higher quality resources.

After you have found the resource node by following the 'ball of light' and seeing the 'poof of light' you can place the Mining Golem. The Mining Golem can be placed with the "T" key or by pressing the button on your 'energy orb'.

The closer you place the Mining Golem to the 'poof of light' the more resources you will get from the node for each attempt at mining. If you place the Mining Golem directly on the 'poof of light' then you will receive all the resources the node has to offer in a single attempt. The further away from the 'poof of light' you place the Mining Golem, the more attempts you will have to make to get all of the resources the node has.

After successfully placing the Mining Golem it will begin to mine resources. It will be glowing blue with a slight pulse effect.

During this time monsters will periodically spawn to attack and destroy the Mining Golem. You must defend it until it is done mining. If you fail to defend the Mining Golem then it will be destroyed and you will need to purchase another. When the Mining Golem has finished attempting to extract the resources from the node it will deactivate and no longer glow. The enemies will also stop spawning.

Now you must approach the Mining Golem and press the "F" key to disassemble the Mining Golem and receive the resources it collected. The resources acquired will be shown in the chat log. You can find your resources in the Special Tab of your inventory.

After disassembling the Mining Golem you can use your Diving Compass again and follow the 'ball of light' to the next resource node. If the Diving Compass lights up the same location, then it means you weren't close enough to acquire all of the resources in one attempt and will need to place the Mining Golem again to try and fully deplete the node. If you choose not to deplete the node then it will stay there until it is depleted and you will only be able to detect that node whenever you are near it. A new resource node will not spawn in the immediate area until that node is depleted. I recommend depleting nodes if possible. Otherwise you may have to travel a fair distance to detect a different node.

Remember the NPC that gave you your first mining equipment and quest to go and mine some resources?
Yeah, that one.
After completing the mining tutorial quest you can also speak to him to choose a crafting profession. You can also talk to him to change your profession. This will cost some resources and even though the text is in green, it only requires white quality items. If you switch professions it will reset your profession to level one.
"Armorsmithing" is for crafting both light and heavy armor, as well as shields.
"Blacksmithing" is for crafting both 1handed and 2handed swords, maces, and axes, as well as daggers.
'"Crafting" is for crafting both 1handed and 2handed staves, crossbows, and "gunblades", as well as bows.
"Alchemy" is for crafting potions with various effects. Note that "Alchemy" requires an extreme amount of fish whereas the other professions only require Mining Golem resources.

You can see and keep track of your crafting profession exp by opening the character sheet by pressing the "C" key, then switching to the "Professional Skills" tab. You get exp towards your profession with each craft.

Access the crafting window by pressing the "P" key. Here you will see recipes that you have access to with your profession. If you aren't an "Armorsmith" then you will need to switch to the other tabs in the crafting window to see your recipes.

In the red outline is the required resources and how many of each for the selected item. You can only change the quality of these resources by dragging a higher quality version of the resource from the "special tab" of your inventory. Besides the two default resources there are two empty resource squares. You must choose other resources to place in these squares to craft the item. You can not use more than one of a specific resource to craft an item.
In the green outline are the potential stats, or "potential abilities" that can be on your crafted item.
The stats on each crafted item are randomly drawn from this list. This list is determined by the default materials that the recipe requires and the extra resources you choose. The value of the abilities is determined by the quality of materials you chose. Higher quality = higher numbers. Note that some resources will have overlapping stats with other resources. You can use this to limit the stat possibilities.

A huge thank you to ƒare for providing this and giving me permission to place it in my guide.
The values highlighted in green signify the resource that gives the highest value for that stat.
All of these values are from white quality items.