In an epic battle, if I assign a hammer to a token and the token takes damage, causing it to then be removed from the map, will it still have the hammer when it respawns at the beginning of my next turn. I do not see anything on the BotS card to indicate that a character loses the hammer after being KO’ed. I can’t find anything in the resources or horde token section that states that defeated characters remove resources from their cards after they have been defeated.

From the card for the Book of the Skull:
If you're talking about just using the hammers as relics, they would be placed in the square of the KO'd character according to the rules for relics.

oh must have missed it thanks