Yes. The exisisting holes were only about half a hole diameter off, but in the wrong direction. I probably could have got by, but your hole location is best. I might even drill at a slight angle to get some more space between the new hole and the old hole. Titebond wood glue is pretty strong though, when it's dried, and pretty permanent, and I've never had a problem in other projects with a drill bit trying to follow the old hole, if it's complete filled solid with toothpick and glue. A proper fitting piece of wood is best, I'm sure, but I had none at the time, and I wanted it to set overnight. It should be fine.