Something as small as this is difficult. I would start by trying to build a drilling jig so that the drill won't wander. You have Bob Hope and no hope of doing this with a handheld drill, the drill will flex or more likely your grip will wander and it will pick up on the junction between the drilling and the screw, because this is effectively softer, being partially fresh air. Once this happens you might be able to retap the new hole, if it's got enough structure to it, either to original size or one size up. Otherwise you are into drilling oversize, tapping and putting in a threaded insert, which is standard light engineering but requires a degree of skill, not to mention enough metal to hold the insert. If it's very small a frame builder might end up drilling the remains, filling it with braze and tapping that. It's non structural so screwing into braze will be acceptable and, unlike the original, it will never corrode in place.
Oh, don't forget Helicoiling.