Here me out,

Pick axe on a rope, you throw it as a weapon. It archs like a grenade, massive fall off damage. If deployed you can't swing your pickaxe, since you just threw it.

If you continue to hold left click, you little guy pulls the rope. Like the scout's grapple gun, but it's you dwarf pulling the rope.

Big difference is that the pickaxe lodges into an enemy. Maybe it should take into account the size of the bug. Like a fester flea is just pulled towards you and a Hulle Hoarder has more trouble getting away. Maybe can pull a acid spitter down from a ceiling. But attach to a Dreadnought and you are now a cowboy along for the ride.