Steve nailed it. I doubt seriously you hit the exact middle of the broken stud with the small hole. That being the case, it would more than likely get into part of the threads, on one side of the hole, if you drilled to the full, tap size.
The best thing to do is as Steve says, and progressively step up in size until you can see the tops of the threads in part of the hole. From there, and sharp cape chisel will do wonders to get the remainder of the bolt out of the hole.
I've done hundreds this way, some in extremely tight spots. It may take a little bit, but I have yet to have one I absolutely couldn't get out.
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Today's Featured Article - The Revival of a John Deere Combine - by The Red, John Fritz. For several years I had been driving by a farm house on the west side of Indianapolis that had a John Deere combine parked in high weeds in a lot behind the house. The gentleman no longer farmed because the entire area was developed with housing and light industry. I had stopped several times and knocked on the door but no one would answer. My curiosity was up and I wanted to contact the owner. I wanted to see what he planned to do with the combine.
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