An assembly of components for forming upon consolidation of the components a cutting insert for use in chipforming and material removal from a workpiece wherein the cutting insert receives coolant from a coolant source. The assembly comprises a cavity member that presents opposite first and second rake surfaces and a flank surface. The cavity member further presents a first cutting edge at the juncture of the first rake surface and the flank surface. The cavity member further has a first depression in the first rake surface that is generally adjacent to the first cutting edge. The cavity member has a first cavity channel in communication with the first depression.