In a case like this (say, on a barrel) you want the threads to extend right to the bottom, or as near as possible. A bottoming tap will work once the hole is drilled but how do you create a flat-bottomed hole? I read that you cut the drill bit off flat, then grind a relief angle on the back of each flute. Perhaps not so hard on a 1/4" bit, but pretty difficult on a #31 (6-48). Maybe possible to grind on a milling machine if you can get the speed up enough?