This is a must have tool for drilling in steel. You could just use an old bean can, but after you've spilled cutting oil everywhere, you'll see there's a better way...
Step 1: Watch the Build!
*Behold!* The must-have ultra luxurious, bleeding edge techno gadget for the more-money-than-brains-Louis-Vuiton gearhead crowd. Ultra exclusive offering; population: You.
I'll show you how I drilled, milled, glued, acid etched, copper and gold electroplated this one of a kind drill press oilcan. It's a real handy tool to have around the shop.
Heavy gold plated steel with magnetic base and brush retainer, ensures it won't spill during heavy cuts. The high performance, stinking-rich-grade gold electroplating ensures instant heat transfer to eliminate heat build up in high performance cutting fluids.
Step 2: Drill and Mill the -20 JIC Hydraulic Plug & Cap
Watch the vid for tips on installing a high strength magnet.
Step 3: Make the Copper Plating Solution
There is a great and simple instructable by A_Steingrube. Basically, use vinegar and hydrogen peroxide to disolve a copper scrub bud. Behold the majestic blue liquid!
Step 4: Gold Plating Magic
Same process as copper plating. Cleaning and prep is critical.
Watch the vid!