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You can always sharpen the drill bit by hand. If not, another way to restore that cutting edge is to use a bench grinder. Bench grinders are one of the most high-maintenance power tools.
A bench grinder is all you need to turn rusty old hardened-steel tools, like cold chisels and punches, into useable workhorses.
Both new and used chisels need to be sharpened in order for them to work properly. This primer provides a thorough run-through of one way to sharpen chisels using a grinder, a set of Norton ...