I thought I would give a water misting sprayer a try so here is a photo of the unit. It seemed logical
to mount the mister on the indexing bar since the mister would easily be movable or removed if desired.
Water is an excellent coolant, much better than oil but probably not much lubrication. Water in order
to change state from liquid to a gas if I remember correctly from physics lab requires 540 calories per gram.
That's a lot of cooling. I have not actually used it yet but it does shoot out a nice mist and it is very
aimable and controllable as to the amount of volume. It might be great to keep a tool cool during
some hard to machine material, maybe like stainless. I havn't machined much stainless so that will be a new experience. These units are available very inexpensively (under $10 delivered). Basically you apply
air pressure to the unit and it will siphon water through a small hose and mix it with the air blast.
I call it my "Hey Mister".
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Edit: I took my nozzle apart and found there is a small plastic tube inside the purple bendable
thing. There are different designs out there so I would look closely at the photos before you buy one. That way the mist is generated at the tip and the brass nozzle gives some control to the
spray.