I'm using 1/4" metal dowel pins for alignment pins on two aluminum plates ( Molds for lead fish lures )

I need the holes on one of the plates to be a tight fit so the pins stay in place.

The matching hole will be a loose fit so the plate can easily be split apart.

What would be my best approach to get a consistent result?

A: Drill a pilot hole and finish it up by boring out the hole to the correct size with an end mill

B: Don't do a pilot hole and just do the hole operation with an end mill boring tool path

C: Don't use an end mill and do the hole operation with drill bits.

On another project I've been using a drilled pilot hole followed by boring out with an end mill and I've noticed my holes are not always perfectly round...

Thanks much for any suggestions..

Kent