This short video shows you how to make a dial indicator stop for a Grizzly G0602 lathe that can be easily adapted to other lathes. The stop is used with a magnetically mounted dial indicator to very accurately measure depth when drilling or boring.
You may find this video worth watching even if you don’t want to make a stop because it shows some unconventional ways you can use a lathe to do milling.
By the way, there is an easier way to make one. You could just bore a hole in piece of metal to fit your quill and then add a setscrew to hold it in place. But the setscrew will probably leave marks. This stop is a little harder to make but it won’t do that because it clamps evenly around the quill’s circumference.