Most hardware store steel is mild steel unless stated on the tag. You
don't indicate how many holes you will be drilling but if they are a few
hundred look for a drill press. Even one of the cheap asian imports from
Harbor Freight would be a better solution than drilling by hand.
Buy good drill bits. Look for a contractors supply house and buy the
size you need rather than a index full of bits.
Run the drill (hand or press) at low speed. For lube I use Isopropyl
Alcohol (rubbing alcohol) in a squeeze bottle. It evaporates and leaves
no residue which helps when prepping the steel for painting or welding.
(warning and disclaimer for the chicken littles - yes, this can catch
fire and burn your house down - use with caution and in well ventilated
areas or add water to the mix up to a 1 for 1 ratio - end warning and
disclaimer)
Squirt on to the steel at the start of the bit and add more as the hole
forms. If the mixtures boils off the steel your drill is moving too
fast, too dull or your not keeping it wet with lube.
My 2 cents, good luck
Jim Vrzal
Holiday,FL
Jamie Jackson wrote:
I've got a lot of drilling to do in iron (?). This is the kind of
metal sold in the hardware store along with angle iron, etc. It rusts
fairly easily, is magnetic, etc. It's 1/2" wide and 1/8" thick or so.
I'm describing it because I don't know exactly what it is (iron or
steel).
Anyway, I've got to drill lots of ~3/16" holes through the stuff, as
well as countersinks for wood screws. Last time, this was really
slow-going and hard on the wrist (I've only got a power hand drill),
especially the countersinking (boring bit is Titanium Nitride,
countersink bit is high speed steel), and the countersink bit dulled
quickly. Should I be using a lubricant, and how do I approximate the
right speed with a hand drill?
My book here says to use lard oil for mild steel (though I don't know
if this is steel or iron), and to use a "medium" speed, whatever that
is. If I've got to use lard oil, where do I find it (will shortening
work)? Hopefully, there's an alternative, considering this is a pretty
low-fat house. 
Tips on lubricating while drilling would also be appreciated.
Thanks,
Jamie
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