Dremel bits rust when soaking in water problem

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Hello everybody I hope you're doing fantastic! I ran into a situation I remember marine gun builder stating to soak the diamond bits and water prior to use. I ran into an issue of the shanks beginning to rust. Has anyone else run into that problem. These are Dremel parts by the way in the picture.

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The last two pictures just sharing which bits I used, the round one for the RSA channel the other one for the top rails. In addition instead of water I saturated the bits with the same cooking oil that I used for drilling the holes it left a semi-gloss finish.
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View: https://www.amazon.com/Evapo-Rust-Original-Water-based-Non-Toxic-Biodegradable/dp/B00GRSOJSS?ref_=ast_sto_dp&th=1&psc=1

Surplus Ammo Can

Seems like ammo prices have gone down and I feel like I can start to build my pile and hopefully one day have a stockpile. Have a bunch of plastic cans and I want a metal can for a long-term storage solution. Midwayusa had Free Shipping and I almost ordered this one. Reviews were terrible, it...
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Thank you for the response, . I am more interested in the diamond bit keeping cool and also cut smooth. Example, our concrete cutting saw on the Collapse Unit had a diamond chain which required constant water to keep the chain cool, smoother cut and diamond material to last longer. Not so concerned with a shine, I do like good looking tools but know will get scuffed during use.
 
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Just completely dry it off after use hair dryer. I would just dip the tip in the lube as you are working nothing longer or it may rust.
Maybe a light oil after WD40 would be a good idea. I would give WD40 a try as lube .
 
I use kerosene or WD-40 and I don't soak bits; I just dip my finger into lube, then pat my frame.
Using an oil base lube helps keeps your frame from drying out.
Water is not a lube and doesn't soak into plastic whereas oil base lube does. When I use my diamond burrs or sanding disks, I don't like to use lube because it's hard to see how much cutting they cut when wet.
The only time I use lubricant is when I am cleaning up some sanding or cuts made in the frame. Then I go over everything with a plastic polish and a buffing wheel. This is what I do but by no means is this the only way to do it. Really this type of work is about how comfortable you feel it the process for building. I used to soak bits but stopped because of the fact that they rust up.
 
Correction made Michele sorry about that. I actually had decent results using the same cooking oil I use when drilling the holes. Thank you for the input everyone.
 
Mooner said:
The best rust remover might be evapo rust. Non taxic, safe to handle, reusable. I used it to remove rust on surplus ammo can and this stuff is blackmagic.

Amazon product ASIN B00GRSOJSS
View: https://www.amazon.com/Evapo-Rust-Original-Water-based-Non-Toxic-Biodegradable/dp/B00GRSOJSS?ref_=ast_sto_dp&th=1&psc=1

Surplus Ammo Can

Seems like ammo prices have gone down and I feel like I can start to build my pile and hopefully one day have a stockpile. Have a bunch of plastic cans and I want a metal can for a long-term storage solution. Midwayusa had Free Shipping and I almost ordered this one. Reviews were terrible, it...
www.patriotgunbuilders.com www.patriotgunbuilders.com
Click to expand...
Thanks for the lead Mooner. Fortunately the shanks only had easily wiped off surface rust.
 
I've been using mineral oil (same as I use for drilling the pin holes) for lubrication while using rubber polishing points. Seems to work well. I don't feel water works as well.
 
I use some tap-magic I have left over form my tooling days for drilling but really any oil-based lubricant works great for hole drilling.

I never understood why MGB used water. Wet sanding works great with kerosene or WD-40, follow up with a plastic polish and you will get the frame color to come back to its original color.

After I get finished with all the frame mods, I do wash them in dish soap water and rinsing.
 

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