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Ideal for manual drilling - insert the bit you want into it (it holds drill bits up to 1.2mm), tighten it up, then drill by pushing down on the knurled wheel. The return spring means you don't have to keep pulling the wheel up at the end of each stroke.
It's slower than using an electric mini-drill, but far more controllable and doesn't generate the heat that the speed of an electric drill does (so no more melted plastic parts !)