Contains: Horn of Blood Mead
From Sindri's Shop at the starting area of the Foothills, follow the dirt path to the nearby hill then turn right. The chest is near the rune spinner contraptions that you'll have to operate to unlock the chest.
The first spinner contraption is right behind the nornir chest. Just hit the plates with your axe to match the middle rune on the chest.
Backtrack a bit to find the second spinner out in the open then do the same thing until the correct rune is displayed as shown below:
Finally, head to the right. The spinner’s rune is blocked by the poison fog so you’ll have to freeze the scorn pole to see the spinner’s rune. Once the rune is matched as displayed below, head back to the Nornir chest and get a Horn of Blood Mead.