Hi Gary,
You mention 'precious metal'. Are you a jeweller, watch or clock maker?..
Are you new to working with 'cheap' machines?
If combination of the above, then please don't waste your time trying to figure anything out. I say this with the greatest of respect. From experience of selling to professionals as well has amateurs in the above field, I can tell you that professionals buy and modify this machine somehow to meet their precision requirements (don't ask me how as I don't know), and persons who are new in this field (expecting high precision drilling) usually end up disappointed.
The X0 does have a variable amount of end float due to the rack and pinion arrangement on the quill. 1mm movement seems to be a little on the high side, so are you sure this is the case?. It works as it is supposed to, as it was designed, for the purpose of 'drilling' metal. Almost all drilling machines have such end float. It is not designed as a high end precision drill/mill.
Certain people such as Frank Crispin – well known in the hydrological arena have stripped the machine and added bits to it to remove end float, to meet his precision requirement. Otherwise, his words: ' he would have to spend around three to four times as much' to buy a high precision micro drill for his purpose'.
For milling, one would lock the quill by tightening the large socket head screw (which originally used to be the locking handle part 96 on the exploded drawing.).. this would remove the end float for the purpose of milling.