Tool system for precision slotting

An improved cutting tool assembly comprising:

• a tool holder having a pair of rigid gripping jaws formed integrally as one piece in an edge portion of said tool holder;
• a pair of longitudinally directed jaw edges which are directed to an acute angle of between 6.degree. to 12.degree. to each other and which define between them an open-ended, wedge-shaped recess of said holder which opens out towards the edge of the tool holder;
• a unitary cutting insert having a pair of longitudinally directed insert edges which are directed at an acute angle of between 60.degree. to 12.degree. to each other and which define between them a wedge shaped body portion of said insert;
• a leading end of said insert formed adjacent a wider end of said body portion and having formed thereon a cutting edge;
• an opposite rear end of said insert formed adjacent a narrower end of said body portion;
• wherein the improvement comprises:
• an abutment shoulder formed on an adjacent to one end of said insert edges;
• said insert being insertable into said recess and being frictionally retainable between said jaws with with said abutment shoulder abutting the exposed end of one of said jaws so as to limit the extent of insertion of said insert into said recess, said rear end of said insert being fully spaced from a narrow end of said recess, and chip shaping means formed on said cutting insert for controlling the shape and rigidity of the chips being formed during an operation of the assembly.