It is the drilling the hole bit that makes it difficult. The "cut off" end of the stud is not flat and the drill is more likely to wander wildly off centre and damage the frame than cut into the comparatively soft aluminium surface .
setting it up on the mill next week will give the best chance of drilling the axis of the stud, I'll probably start off with a left handed drill, chances are that could well bite enough to solve the problem, if not it will leave me a hole with which to try an easy out.
Then if it there is any further trouble, I can mill the hole thing into oblivion and helicoil to an M5.