Hello Ian.
Many years ago I built a column based on the Emco milling FB2, in a smaller scale, to fit on my Emco Compact 8 lathe.
So, the cylindrical column is made of steel thick walled pipe and the head is made of two cast aluminum blocks.
The quill is made of steel and is 61,6mm in diameter and its course is 45mm.
When I built the head, knowing that aluminum is soft and would be worn quickly, build a bronze sleeve from hollow tube with a thick shoulder at the bottom and set it unfinished inside, into the hole’s head with a little Araldit. Then bored the hole for the quill in the bronze sleeve and used four screws to push the edge on the bottom against the aluminium block. The hole for the screws is made half in the aluminium half in the bronze so when boring to the diameter of the column the sleeve doesn’t rotate. The last operation was to do the sawcut for the clamp.
For many years I do not use this small milling head, but while I used worked beautifully and still shows no signs of worn.
If I were You I would make the following:
1 – Make sure the rest of the hole ( the upper part) is parallel and has no execessive clearance.
2 – If it is parallel, make a sleeve with eight equal to the clamp parte of the head
and with diameter at least 4mm larger than the hole see, please,
3 – With a felt pen draw two crossed lines on the bottom face of the head block, one passing along the frontal sawcut. They are to be used in point 5.
4 – Mount the head block in the lathe carefully centered on the hole and bore the hole to the horizontal sawcut and to the diameter of the previously made sleeve.
5 – Fit the sleeve to the block head with some good Araldit and after the cure, using Your tools and skills make three holes (M5 by instance) in the place crossing the lines You draw in point 3. The place coinciding with the sawcut don’t receive the screw.
6 – Tap the holes to M5 and apply adequate screws.
7 – Bore the bronze sleeve to the diameter of the quill
8 – Cut the bronze with a saw to form the clamping system.
9 – Clean the burrs in the sleeve inside.
10 – Try and mount the quill.
Or something along this lines.
Please forgive my poor use of Your language.
Hope this help
Dias Costa