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It doesn't look like any kind of munition I have seen. Is it ferrus or nonferrous ? Where was it found?
Looks like an old arrow field tip to me.
A 5 inch Arrow head? I like the drill chuck idea so far. Grizzly H8260 Keyless Chuck with Integral Shank, 1/2-Inch - Amazon.com
Looks like a small rusted up morse taper live center for a lathe..
Iludium Q-36 explosive space modulator.
Just a guess.