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Commercially made end mill cutters can be purchased from tool supply houses as small as .010″ in diameter. if you hone away one side of the end mill you will have a single lip cutter that can be used as a boreing bar. It will only be able to take very tiny cuts and you will need to mount dial indicators to your tool slides in order to avoid taking too heavy of a cut. High precision collets are expensive but there are many steps involved in making them with enough precision to warrant their existence.