Bob,
You have PMs.
On your machine, you would set the drill with the lip horizontal, and then swivel the holder by 59 degrees to the wheel, to produce the 118 degree point angle.
The problem is going to be to raise the drill by 30 degrees for the secondary clearance, and then for the 10 primary clearance angle.
To do this the collet holding the drill needs to be set at those angles. Maybe, by setting the rotational stops some form of clearance can be set..
This will produce clearance angles, but I am not sure that they would be parallel to the cutting edge of the lip. So possibly not a four facet grind as we normally know it.
To produce equal length lips the in feed will need to set carefully each time, to the same micrometer setting, to ensure that the drill will give a hole that is accurately sized.
I can only suggest a “suck it and see” approach.
You may end up with a drill which has clearance, and cuts, but not a four facet ground one.
Howard
e