Slant 6 timing chain lubrication?

Nose grease.

You take your wee li'l drill bit and wipe/roll it in the corner where your nose meets your cheek. My Grandpa used to do that with the metal ferrule on 2-piece bamboo fishing rods. They'd come right apart later. Best tiny-drill-bit lube known to man. It keeps the bit from grabbing.

If the plug I'm drilling is small enough to put in my drill, I clamp the pin vise in the bench vise and put the plug in the drill chuck, just as @TT5.9mag showed. I make my own carb bleeds/restrictions this way, rather than paying $6/pr.

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I do the same with all the brass in my carbs.