In his book, The Skills of a Blacksmith, volume1, Mark Aspery shows how to forge a chisel to be used in cutting out metal sheet, both non-ferrous and steel up to 1/8" thick. He starts with a 1/2" round bar, tapers the end until about 1/4" at the point, files a 1/8" wide sharp edge perpendicular to the chisel's shank, but at one side of that edge he files what he describes as a leading edge, 1/8" wide at a 45 degree angle to the first edge. In the end the total chisel length is about 4 1/2" long.
No hole drilling in the sheet metal needed.
He pictures an acanthus leaf (kinda an intricate shaped leaf)cut from 14 guage steel and a fancy script letter M pierced into a sheet and they look REALLY neatly cut.
In a picture he seems to be holding the chisel about vertical and guiding it with his pinky finger.
John