I think that is the hole from the High Speed needle. Remove the high speed needle and shine a light through there and you'll probably be able to confirm it. However, if the hole has been drilled at an angle, then you are probably right.
If the low speed circuit drew its fuel from the nozzle circuit, I would expect there to be TWO holes in the discharge nozzle tunnel. One from the high speed needle and one from the circuit that has been blocked.
If there aren't any more indications of blocked off circuits (look for more plugs on the carb), then it appears that both high speed needle hole and angled circuit have come together in one hole. In which case, the mod is going to be more difficult to do. If there were two holes, you would block the hole to the low speed circuit with a bit of JB Weld (I do that on the Walbros)
What we want to do is isolate both circuits from each other. If they both come together in the nozzle tunnel, then you will have to drill further back from that hole and into the feed to the low speed circuit, perhaps 5 mm will be enough. However, you don't want to drill too far back along the circuit or you may hit where the low speed needle comes into the carb.
After you have drilled down and found the circuit, you can probably open up the hole you drilled with a bit bigger drill to make the next move more easily. You need to fill up the hole with JB Weld so that the circuit is blocked and no longer connected to the nozzle tunnel.
Once the circuit is blocked, we will drill another hole over the low speed needle to provide fuel to the low speed circuit. - Then you can start tuning a whole different carb!