I recently bought a drill press stand for a Dremel. I have some bits with a 1/8 inch shank that I got from HF but they are not the size that I need.
Can regular twist drill bits be used in a Dremel by buying additional collets? I think the largest bit would be around .070 and more common .035 to .062.
Or you might use a Dremel 3-jaw chuck:
https://www.amazon.com/Dremel-4486-MultiPro-Keyless-Chuck/dp/B0000302ZV
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I don’t have experience with this since I generally work with larger bits, so take my warning with a grain of salt and do some homework. I avoid using bits made for drills in my router. The speed differences are 2k rpms compared to 20k-30k rpms. So the tooling made for routers must be machined and balanced more precisely. It could be in your case that the mass of the bits is too small for there to be any issue, but with a 10-15x increase in speed, I would at least start at the slowest speed and see how it feels. Even if it feels okay, your holes may be slightly oversized if the higher speeds bring extra runout, so check that as well if dimensions are critical.
Fred’s suggestion seems pretty good for adapting the bits to your dremel.
RKA’s admonitions are not to be ignored. Those little drill bits will not tolerate side loading and particularly at the high rpms a rotary tool can produce. I have one of the three jawed Dremel chucks. Just make sure it is well aligned and moves freely. It is not really a true chuck. It is an adjustable collet that has spring tensioned jaws in it and they can bind a bit when tightened. Just make sure it is moving freely when you tighten it. And indeed, a drill press mechanisn is the only way I would drill with those tiny machinist’s bits.
+1 on what Satch says.
Wear eye (better yet eye and face) protection when drilling. Small drill bits can easily shatter - we had the experience with cobalt aircraft adapter bits - and flying pieces are not something you want embedded in body parts.
The largest diameter of drill bit that a Dremel chuck of any sort can handle is 1/8" max. While in the Workstation, you can only do straight plunges, it doesn’t turn the Dremel into a proper drill press for machining. If you want to do side-cutting you need the 231 Shaper/Router Table attachment, and to use Router bits, not drill bits.
https://www.dremel.com/en_US/products/-/show-product/accessories/231-shaper-router-table
Dremel rotary tools are high speed tools, not high torque tools. They don’t do the heavy cutting that a full sized routing or machining drill press would do. And, honestly… buy non-Dremel bits at your own peril. Often Dremel Rotary tools aren’t capable of operating at the specific speeds of high-torque tools. More often than not, they go hundreds, if not thousands, of RPM faster than the bits can handle. This means the bits, AND your materials will splinter and go flying when they shatter.