Abstract: A reconditionable drill bit assembly comprising a drill bit body having a thrust face at one end and a head section separably connected to the drill bit body, the head section including a working face and an opposite rear face engaging the thrust face of the drill bit body, a plurality of bores extending through the head section and opening on the working face, the bores including a tapered seat portion adjacent the working face and a generally cylindrical section extending from the seat portion to the rear face, a tapered carbide cutting insert seated in the seat portion and a back-up pin located in the cylindrical section engaging the inner end of the cutting insert and the thrust face to hold the cutting insert in place whereby the cutting inserts are replaceable by separating the head section the drill bit body and removing the back-up pins and the cutting inserts through the cylindrical sections of the bores.