Michigan Drill cobalt steel extra-long length straight shank drill bit. Cobalt steel tools are similar to high-speed steel, but with more cobalt for improved performance when cutting harder metals such as stainless steel or nickel alloys. Gold oxide is a thinner oxide surface treatment than black oxide typically used to identify cobalt steel tools; performance is similar to uncoated tools. Round shanks allow use with a wide variety of toolholding systems. When run in a counterclockwise direction (right-hand cut) spiral fluted tools evacuate chips up and out of the cut to reduce clogging. These drills are utilized in deep hole or long reach drilling applications in many kinds of materials for either hand held or fixed spindle use. 135 degrees split point for nonslip starting on hard materials.