Abstract: A composite drill bit comprising a shank member having a bore disposed therein and an insert which is disposed within the bore such that a portion of the insert protrudes from the shank member. The insert is rigidly secured within the bore of the shank member through the use of an ambient cure adhesive.

Abstract: An apparatus and method for automated loading of a drilling machine package having a plurality of drill bit receiving openings arranged in a known configuration with verified precision drill bits from a drill bit container is disclosed. The apparatus includes an automated transfer machine which is connected to a control device, a package frame, a container receiving member, and a diameter sensing device. While not necessarily connected to the automated transfer machine, the package frame and the container receiving member are located at positions which are accessible by the automated transfer machine. Further, the diameter sensing device is operably associated with the automated transfer machine. The method of operation includes the control device recalling data specific to a particular job. A drill bit container is placed on the container receiving member.

Abstract: An apparatus for adjusting the positioning of a locating ring upon a drill bit. The apparatus comprises a housing having a drill seat attached thereto for slidably receiving the shank portion of the drill bit. The apparatus further comprises an adjustment mechanism which is attached to the housing for positioning the cutting tip of the drill bit at a desired separation distance from the drill seat. Also included is a reciprocal ram assembly attached to the housing for selectively bumping the locating ring into abutting contact with the drill seat subsequent to the insertion of the shank portion into the drill seat and the positioning of the cutting tip at the selected distance relative the drill seat.