Cutting tool assembly

A cutting tool assembly, comprising a tool body portion and at least one cutting portion at a forward portion of the cutting tool assembly, the at least one cutting portion comprising a tool clamping portion, an insert retaining member and a cutting insert;

• the tool clamping portion comprising:
• a tool base jaw having an upper side constituting a first clamping surface;
• a tool clamping jaw having an upper side and a lower side, the lower side constituting a second clamping surface, the tool base jaw and the tool clamping jaw having a gap therebetween for resiliently receiving the insert retaining member, the gap having a given rearward linear extent (L3);
• a first slot extending in a generally rearward direction from a rear section of the gap, the first slot terminating in an aperture, the gap together with the first slot and the aperture forming an insert retaining member pocket having a given rearward linear extent (L2);
• a forwardly facing first location surface;
• and
• a second slot extending generally rearwardly from a gullet bordering the upper side of the tool clamping jaw, the second slot having a given rearward linear extent (L1);
• the insert retaining member comprising:
• a base jaw having a lower side constituting a first clamping abutment surface for abutting the first clamping surface, and a clamping jaw having an upper side constituting a second clamping abutment surface for abutting the second clamping surface, the base jaw and the clamping jaw defining therebetween an insert pocket for receiving the cutting insert;
• and
• a rearwardly facing second location surface wherein, when the cutting tool assembly is assembled, the second location surface of the insert retaining member abuts the first location surface thereby precisely locating the insert locating member in the gap.