Drop rate of the weapon panic Zealot?

Just wondering what is the actual drop rate of the weapon is.

I have been trying to get this weapon from the boss alter but no luck after 5 successful attempts.

Been buying soul essence from market, 20ish eb per entry, and I can only win about 40% of the fight

Just wondering if I should throw more emerald for this weapon

 

All Boss Altar weapons and armor have a 40% drop chance regardless of rarity tier, assuming this hasn't been changed past 2.0.1.
You just got really unlucky

________________________________

Speaking of which, why not just kill mobs to get the Soul Essence? It's way easier and less emerald-consuming.

 

I actually did like 7 or 8 times and the drop rate for me is 100% idk how

 

Thanks for the stats for the drop rate and the tip
Mob grinding had not been a favoring of mine since the drop rate is so low, but recently I found a better grind spot and thought of using morph-set for the increase loot drop and it had gotten much better.