WOW! That must be some expensive Arkansas stone! Are you talking about a bubble that formed in a grove on the wax as it was being invested? If so, yes you can sometimes just knock them off with a small chisel that you can buy at Ace or True Temper Hardware or a nail, small screwdriver, punch, but you cannot refine the groove with one of the aforementioned items. You can dress the grooves,dips and valleys with a burr in a flex shaft machine. Burrs come in all shapes and sizes.