A lot is going to depend what your skill set is plus what available hand or power tools you now posses, and whether you are wanting to make it to appear as a vintage machine made completely with primitive tools using materials and tools which would have only been available to a craftsman 150 years ago. Or something more modern using off the shelf steel shapes you can buy at any metal mart then cut and weld them into the frame buy a hand full of gears full length key-wayed shaft, bushings, bearings and a few nuts and bolts.
if the former, short of setting up a furnace and smelting some iron in a crucible then pouring that into a sand mold myself it would difficult to explain the complete process to any degree for someone to be able to make an entire drill press using that method.
If you are looking to do it out of modern materials it would be a simple matter of drawing one up.
Perhaps someone here has already made one and will chime in, or if you can find the Popular Mechanics article on how to make a hand drill press dated somewhere in the 1940's

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