you probably want to get a couple different sizes of tool so you can do roughing, so that you don't have to try to cut that much material out with a 1/16" ballnose. stepover would be painfully small to get a flat bottom with that bit.
you may also want to look into 2-flute or even single flute mills, or even profile mills. the taig spindle doesn't spin fast enough for a 4-flute for that. it doesn't even spin fast enough for a 2-flute that diameter really, but you can make due.
if you consistently cut with micro endmills, you may want to consider going to a water-cooled vfd spindle to get the rpm's up to what tools that small of diameter like.