I need to machine some 5/8" PVC sheet stock into something like "peg board". I have some flexibility on hole diameter size but in the .080 " range. Depth of hole needs to be 1/2". I have a 1/8, 3/16, 1/4 and 1/2" collets. Drilling about 500 holes in a 15x30" sheet.

I can find bits with 1/4 shanks, but depth is 3/8". I've also found router bits but depth is still a problem.

Looking for a source anyone may have.

Thanks.