A targeting tool releasably holds a portable drill press on a work piece while drilling a hole in the work piece. The portable drill press includes a tubular column with an open bottom end and a mechanical advantage device. The mechanical advantage device moves a drill up and down along the tubular column. A targeting base includes a base for releasable engagement with the work piece, an upstanding post affixed to the base that is adapted for engagement with the open end of the tubular column, and optionally, a drill guide in the base through which a drill bit passes as the drill moves up and down along the tubular column.