Both above are absolutely right. Hi-loks tend to be the most common because of their ease of installation. In general hi-loks are interchangeable with lock-bolts, both are pin fasteners. Lock-bolts have swaged on collars with large specialist tooling, hi-loks use threaded nuts that shear off at...
The technique I teach and was taught:
Light structure - carefully drill centre of stem with no 40 cobalt drill approx 0.050" deep. Then with no 30 drill, drill out lock ring to depth of head. 1/8 punch will pop off the head with a flick of the wrist.
Heavy structure - specially ground punch...
