To make the ferrels, simply mount a 125 grain steel target point on a short shaft and grind it down. Keep turning it as you reduce it until the ferrel weighs about 60 grains. Then, file a small flat tip on it and cut the slot with a hacksaw blade. For .060" thickness use two hacksaw blades taped together.
Next, grind the blades to final shape and grind the bevel on the edges. You can make them single or double beveled. Be careful not to overheat the steel while grinding. Then, hacksaw out the base to fit the ferrel. Hand fit each one to ensure straight alignment. The blades now weigh about 100 grains.