Settings are discussed in the Beyond the Manual section. I went there and entered 1/16 in the search box and found a lot of topics. Most seemed to deal with acrylic, but there were some for cutting wood. Even if you find settings, they are only a starting point. When working with your own materials you will need to test them. Here is a link to a handy file for dialing in your settings.
And when working with natural materials be prepared to tweak your settings from time to time. As far as woods go basswood is fairly consistent, but all trees are different and sometimes they cut a little differently.