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5/16" Cobalt HSS Straight Shank Fractional Drill Bit (3016020) by IRWIN. Tough metal drilling, including heavy-duty abrasive alloy metaldrilling on hardened steel (heat-treated). Ideal for drilling in tough metal, including heavy-duty abrasive alloy metal drilling on hardened steel. Made from industrial grade High-Speed Steel for increased durability. 8% Cobalt alloy is heat and abrasion-resistant. 135-degree split-point tip starts drilling immediately with less force and eliminates "walking" across the work surface. Bit has a straight shank.