Cheers Stoner 😀
As has been wisely suggested above, clearance hole through the 60mm bit, probably a mm in diameter bigger than the shank ( ie non threaded bit) of your chosen fastening, so M10 would equate to a clearance hole of 11 or 12mm. The pilot hole at least the depth of the amount of fastening that goes into the other bit of timber and for an M10, I would plump for about 6 or 7mm drill bit.
I would also suggest that you use stainless steel coach screws as even though your oak is 11 years old seasoned stuff, there will be some residual tannin, which will happily munch away at the zinc and steel, so for longevity and integrity, use stainless fastenings and washers beneath the hex head.
UK Stainless, based in Norwich are handy for small quantities and reasonably priced. The URL button still crashes my iPad, so here’s a copy n paste link that will hopefully take you straight to their A2 Stainless coach screw page:
http://www.ukstainless.co.uk/product.asp?idproduct=96