The alchemy table will be used a fair bit in this mod, it's used for crafting various ingredients and it can also be used to double ore and even make potions. The snag with this table is that it requires LP from a Blood Orb and crafting also takes time.
As you progress further and further into the mod you will have access to more and more crafting recipes.
With the Weak Blood Orb you will have access to a limited number of Recipes:
The Alchemy table can also be automated, depending on what you would like to extract from the Alchemy Table will depend on what side you will need to attach pipes from. Blood Orbs can be extracted from the top of the table, the “completed item” slot can be pulled out from the bottom of the table and the sides of the tables would be the rest of the ingredients around the completed item slot.