Once upon a time I had to drill several thousand tiny holes to a specific depth and I was fairly certain I would have to change drill bits in the middle of the job. I call this gadget a Drill Depth Presetter. If you ever get into a situation where you have to drill more holes than can be done with one drill bit, or if you fear losing position if a bit change becomes necessary, this is the ticket.
I position this device on top of the workpiece and hang the foot over one side. The drill point nests in a conical pocket in the end of the foot. I rotate the face of the dial indicator, zeroing the gauge at the depth I need. When drills became dull (and they did...) I replaced them, cranked the z-axis of the mill up until the reading was again zero on the dial indicator and I was ready to go again. The same thing can be done with the knurled depth stop on a drill press, so the presetter isn't limited to a milling machine.
Finally, release the quill lock, remove the presetter and do the job. If you break a drill, replace the bit, insert the drill depth presetter and move your depth stop until the presetter's dial again reads zero and you're ready to get on with the job.
If you're too lazy to make your own click on over to my products page and you can buy one.
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