An apparatus and method for manufacturing a downhole tool that reduces failures occurring along a bondline between a cemented matrix coupled around a blank. The cemented matrix material is formed from a tungsten carbide powder, a shoulder powder, and a binder material, wherein at least one of the tungsten carbide powder or the shoulder powder is absent of any free tungsten. The blank, which optionally may be coated, is substantially cylindrically shaped and defines a channel extending from a top portion and through a bottom portion of the blank. The absence of free tungsten from at least one of the tungsten carbide powder or the shoulder powder reduces the reaction with iron from the blank, thereby allowing the control and reduction of intermetallic compounds thickness within the bondline.