On a new layer make a selection for how long you want the drill bit to be
	Using the gradient fill tool, (reflected gradient) fill it like this
	Now create a new layer, contract the selection by 2 pixels and do the same
	Bring the thicker layer to the front and using a small brush, erase some diagonal lines from it
	On that layer only, apply the lighting effects filter on default so it looks something like this ( make sure the layer is selected in the texture channel )
	Its starting to look like a drill now, just need to make the top sharp
	Make a selection like this and goto edit/transform/perspective and skew it to make a point
	Thats it, a decent drill bit

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