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IIRC it's also important not to heat up the workpiece too much as that can cause hardening too. The cutting fluid will help, but also drill for a few seconds then back off to let everything cool.
In an ideal setup, especially with steel, the chips coming of can be straw coloured if using HSS/Cobalt (they can be red if using carbide), and the part remains cool to touch. However, even with the best of setups, you typically still get a bit rubbing due to deflection, which causes heating, not the actual cutting itself.
The only real benefit of cutting fluid, is it lubricates chips coming of, and avoids them sticking to the drill reducing heat transfer into the drill. Oil is actually a pretty rubbish conductor of heat, which is why most industrial machines use water based coolant (there is also the benefit water based coolant doesn't burn if things really go wrong..)
Nomad
Nobody loves me but my mother... and she could be jivin' too...
Agreed, if you are doing it as a business ie not just a one off, I'd use solid carbide drills. Most special material cutting tool technology tools do require fast speeds... so a @Sporky says you need to know exact spec of material you are cutting as well as the speeds and feeds for the drill material. For example carbide routers will cut wood in a 1250 rpm home drill but the optimum running speed is probably nearer 15,000-25,000 rpm. But if you are doing just one plate then buying an expensive drill pc is not on. If you are mass producing a whole different ball game
Not always the best tactic, I'd concede.
Nomad
Nobody loves me but my mother... and she could be jivin' too...
A workshop that uses machine tools to cut and fabricate metals, although engineering plastics are also common. A place full of milling machines, lathes, and other kit, that smells of cutting oil and has piles of swarf lying about.
Nomad
Nobody loves me but my mother... and she could be jivin' too...
http://www.thefretboard.co.uk/discussion/89942/caspercaster#latest