Hi everybody,
it's seems to me that Neil's guess is pretty close ( I was "looking" at the bit in the wrong way, because of the markings, as my pic shows…), only argument against it is that those scribers often have a swan-neck form, but some seen on the web are like this one.
Clive, I thought of it too, but there are no relief angles ground on the bit (perhaps they are not needed for wood?) and there's no positive way to reliably retain it, in case it was rotating at high speed, as is usual for wood.
Good evening,
Massimo