Many of the hobby priced CNC machines have limited Z Axis movement. This coupled with limited clearance on the gantry force a limited number of options for work fixtures. For example, it is very unlikely that there will be clearance for a vice on the cutting bed of a cheap machine.
I started tinkering around with a Z Axis assembly which offers around 150mm of travel. The assembly also uses bearing blocks that should help overcome the tensions that drilling and cutting can offer.
The assembly is designed to be as thin as possible. The spindle mount is a little wider which allows easy bolting onto the spindle mount plate which attaches to these bearings and drive nut. The width of the assembly is important because it will limit the travel in the Y axis if it can interact with the gantry in any way.
Construction is mainly done in 1/4 and 1/2 inch 6061 alloy. The black bracket at the bottom is steel. This seemed like a reasonable choice since that bracket was going to be key to holding the weight and attachment to the gantry.
The Z axis shown above needs to be combined with a gantry height extension when attaching to a hobby CNC to be really effective. Using a longer travel Z axis like this would allow higher gantries which combined allow for easier fixturing and also pave the way for a 4/5th axis to fit under the cutter.