Abstract: A tool box assembly having a first surface with a first aperture therethrough for retaining a tool (such as a drill bit) having a longitudinal axis. A second surface is provided having a second aperture therethrough for retaining the tool. The first surface is retained relative to the second surface whereby the tool may translate along the longitudinal axis thereof through the first aperture in the first surface and the second aperture in the second surface when the first surface is in a first position relative to the second surface land be restrained against translation along the longitudinal axis thereof when the first surface is in a second position relative to the second surface.