> I have one that's very similar

The one in the picture might not be spring-loaded the way you
probably think it is. It's a floor model, and the spring is in the cast
iron head. At rest not under any extension, so would be safe to
dismantle

BTW, I don't use a drill press of any kind when working with
the miniature cobalt drills. (a) it's too slow and (b) I like the tactile
feedback so they don't wander at an angle and break

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