I am curious as to why you felt you needed to do that? Is that the only chuck you have that can chuck a drill bit of that size, even with the reduced shank?
It is a good demonstration of how to make a custom faceplate, though! Use an M12x1 tap and appropriate tap drill, and you could have mounted it on a Unimat DB or SL, or with a 3/4"x16 tap, on some of the smaller old American hobby lathes. Not that there'd be room to spin it in the smaller Unimats, but the process is exactly the same.
Bill

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