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The drill blank is made from high speed steel and has a diameter of 0.397 and a length of 5-1/8. Its main benefits include high wear resistance, reduced chipping and breaking, and enhanced durability compared to traditional carbon steel blanks. Additionally, its 135-degree split point allows for easy penetration into various materials such as metals, plastics, and composites, making it a versatile and cost-effective tool in drilling operations.