Need To Make Multiple 1 & 17/64 Hole

I might have bought the same 5C rack you did. I opened the holes on my drill press with a 1" sanding drum. I turned a piece of scrap to just over the 5C diameter, set it on the rack, scribed a line around the round, sanded to the line.
 
If its Only .008 inch to open up the holes the abrasive paper sound like it would be easiest and cheepest. Also will leave them nice and smooth (probably).

Stuart
 
I made my own 5 c collet rack to fit a drawer in my kennedy 306 add on. I used a chassis punch to cut the holes in it. I was only required to lay out and cut pilot holes for the punch draw bolt in the sheet metal. I did that with as I recall a 7/16" home brew sheet metal bit it worked real well turned out pretty nice I believe it was 20ga sheet metal.
 
I made my own 5 c collet rack to fit a drawer in my kennedy 306 add on. I used a chassis punch to cut the holes in it. I was only required to lay out and cut pilot holes for the punch draw bolt in the sheet metal. I did that with as I recall a 7/16" home brew sheet metal bit it worked real well turned out pretty nice I believe it was 20ga sheet metal.
That's a lot of holes for a chassis punch! They do make nice holes though.
 
It was a pretty doggone good little or no distortion in the 20 ga sheet I drilled the I believe 7/16 holes 5 across and 9 deep for a total of 45 holes. I was on the second battery on the 1/4 impacting drill before I got 45, 1-5/16 holes punched though it. I used a socket on the drill to speed up the punching operation here and because I was lazy also.
 
It was a pretty doggone good little or no distortion in the 20 ga sheet I drilled the I believe 7/16 holes 5 across and 9 deep for a total of 45 holes. I was on the second battery on the 1/4 impacting drill before I got 45, 1-5/16 holes punched though it. I used a socket on the drill to speed up the punching operation here and because I was lazy also.
Your carpal tunnel will love for it.
 

I'm going to have to respectfully disagree with you on using a twist drill. Trying to drill out those holes with a twist drill is a recipe for disaster. The bit will grab, and throw the work across the room or twist the work into a pretzel if it's not well secured. IMHO it can't be done with a hand drill, and the setup time on a machine would be a killer.
 
I second Jims' statement. You are asking for trouble. That drill bit will raise havoc if it grabs. You will be counting you fingers every few minutes. There are times when the simple solution is the wrong one.

?Billy G"
 
I'm going to have to respectfully disagree with you on using a twist drill. Trying to drill out those holes with a twist drill is a recipe for disaster. The bit will grab, and throw the work across the room or twist the work into a pretzel if it's not well secured. IMHO it can't be done with a hand drill, and the setup time on a machine would be a killer.

Jim is absolutely right ! 45 years ago I lost the use of the middle finger on my left hand from exactly that situation - severed the nerves and the tendons, surgery could not correct the problems ! The work was secured (I thought) in a substantial vise at the time.

Make a taper reamer :)
 
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