Abstract

A plurality of cutting plates are mounted in a recess forming a mouth at one end of a drill bit and each cutting plate has a plurality of cutting edges. The drill bit mouth provides chip removal. In the cutting position, the cutting plates are arranged in a plane extending in the direction of the axis of rotation of the drill bit and the cutting edges are arranged in a step-wise manner. The cutting plates can be turned for arranging different ones of the cutting edges in the cutting position. The cutting plates extend radially outwardly from the axis of rotation with one plate adjacent the axis of rotation and the at least one other plate extending radially outwardly from it. The cutting plates have a parallelogram shape in the axial plane of the cutting position. In the cutting position, cutting edges of the cutting plates are in parallel relation to one another with adjacent parallel cutting edges on adjacent cutting plates being in contact with one another. Within the cutting position, the cutting plates are adjustably displaceable in the radial direction. Further, the cutting plates can be secured in the desired position.