You can preserve the backing plate by using a slightly smaller drill and stopping early, then drive out the remaining bit of rivet with a punch.
EAA 668340, chapter 326 & IAC chapter 67
RV-8 N89SE first flight 12/26/2013
Yak55M, and the wife has an RV-4
There is nothing
-absolute nothing-half so much worth doing as simply messing around with Aeroplanes
(with apologies to Ratty)