Unreal Engine- Working Tools Tutorial

I have been using Unreal Engine as part of my Games Development course and I am a little bit stuck. At the moment I am trying to make an open world survival game for my final project, I am taking inspiration from games like ARK Survival Evolved and Rust. I am trying to implement a working tool system so that the player will be holding an axe and when they hit the axe on trees they will be able to collect wood and it will also play a little hitting the tree animation and then a fall down animation similar to ARK. I am familiar with attaching the weapon to a players hand I am just unsure how to go about the collecting wood from a tree when you hit it. I have searched online and haven’t found anything so if anyone has a YouTube video that can help or have their own ideas any help is appreciated.

check the link for replicating an ark like tree cut.
as for collecting resources, there sould be heaps of tuts about it on youtube, but it goes like this: as your axe hits the tree, (on collision) add N# of wood to inventory. after N# of hit to said tree, use that vid to knock it down.