Patent ID: 8602129

Claim:
A drill bit, comprising: a bit body having a plurality of blades extending radially therefrom, at least a portion of the plurality of blades comprises a first matrix region comprising: a plurality of first carbide particles separated by a first binder phase, each of the first carbide particles comprising a mixture of monotungsten carbide and bitungsten carbide, wherein the first carbide particles comprise angular particles; and wherein the first matrix region has less than about 5 percent by volume, based on the total volume of the first matrix region, of complex metal carbides dispersed in the first binder phase; wherein the first binder phase comprises from about 35 to 55 percent by volume of the first matrix region; and at least one cutting element for engaging a formation disposed on at least one of the plurality of blades wherein the first matrix region has a fracture toughness, K 1C , of greater than or equal to 25 ksi(in) 1/2 , a transverse rupture strength of greater than or equal to 110 ksi, and a mud erosion rate of less than or equal to 0.0003 in/hr.