Hello yall! I am making some pins that slide in and out of an injection mold side. These pins are 0.250 and the hole that it is sliding in and out of is 0.256", is this adequate wiggle room?

Also the plate (with the 0.256 hole) is a36 (like 1080 steel but hot rolled). I need to know what kind of lubrication for these "ejector pins" should be used, (sliding in that 0.256" hole).

And what should the pin be made out of? I was thinking of some tool steel. any ideas? Thank you very much in advance!