You could buy a vintage horizontal drill stand for less than a tenner, like this:
http://www.ebay.co.uk/itm/BLACK-DECKER-D980-HORIZONTAL-DRILL-STAND-BOXED-/201782684294?hash=item2efb2f6a86:g:Gt0AAOSwopRYb46p
make a quick jig, job done :)
PS. Might be worth drilling a pilot hole first, then...