old boat, newer motor, 1/2" drill

[flathead40]

I'm hoping for some advice/warnings from guys that have done this already. I have a '58 alumacraft deep c. It's rated for a 60hp motor. I'm adding a 2001 40hp honda 4 stroke to it. The honda is a longshaft, so I'm also putting on a jack plate. I had the drill in my hand 30 min. ago, but thought maybe I better see if I could get some advice on this first since I've never done it before. The jack plate is a cmc manual plate, ML-65. Thanks in advance for the help.