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The flange holes seem to be smaller than my m8 drill bit and tap. Is it a m6 instead where I can just tap it Or do I actually have to drill with my m8 bit and then tap it ?
Yes, that is where the 17/64 drill bit comes into play. Take your studs, place them next to your drill bit, put tape around the drill bit where the bolt stops (That way you can tell how far to drill into the pan). Drill it straight and don't go past that tape!