I'm not at a place where I can view wiki atm (at work), but I believe under the 'calculating magic damage' page it lists 1/16 as a possible resist (I could be wrong though). It didn't really matter though, we did about 50 tests on the same mob and the damage was one of two numbers (36 and 39, I think). All we wanted to do was to show it was possible or not to crit on a resist (which someone mentioned to me later it was already tested).

Edit: Now that I have a moment to think on it, your probably right. I don't think I've seen 1/16 before. Doesn't change anything though.

Edit #2: It seems, according to wiki, under both 'calculating magic damage' and 'Resistance' pages, 1/16 is a possible resist.