Assuming the board is aluminum, you can use a carbide burr on the Dremel. The shape I've used in the past is long and pointed, so it has a flat cutting part and a taperd part. They cut fast, however, and can leave a pretty ugly hole. I've also used a sanding drum on the Dremel and find that better since it cuts slower. Last time I needed to enlarge a hole on a Cambo board I went "old school" and used a file. Took more time but since it cut slower I got a much noicer hole.