I think AgX is referring to this type of bit: http://www.leevalley.com/en/Wood/pag...180,42316&ap=1 With careful use they can be used for soft metals. Get the best you can find and clamp everything down. Slow speed - can your drill press run at 300-500 rpm? If anything is off center you'll get a messy hole. Don't force it, slow is better. I'd guess a carefully set up metal lathe would be the option of choice.