My mill is basically the same as a chester lux with the crank handle on the side of the column , i origianally used an 18 volt drill but ended up just buying a dirt cheap mains power drill with the built in speed control and using it to raise ./ lower the head. I can buy the proper motor / gearbox unit for this but the price was unbelievable !
It depends on how much torque you need to turn the handle ,if it is easily turned then a big stepper motoer will do it If you want finer control . The other issue i found using DC motors is they can draw a lot of current and getting a power supply that can handle 40 or 50 amps + wasn't easy or cheap !