What is the slowest speed of your spindle? The obvious way would be to pop a drill in the chuck and off you go but in steel say a 5mm hole for an M6 hole would need a speed no more than 1000rpm I'd guess. As for tapping this would best be done by hand as I doubt the machine would do rigid tapping. If the min spindle speed is too high I think your best approach would be to pop the base on a drill press.