First, sorry for my poor english.
Its 7.1% for 1 min long checks so, if you unlucky enough, you can fish for all day. With pure math you should get something with 14-15 attempts, so, 1 fish or trash with 14-15 min. But ei, its Karelian random, man, its legendary. You should pray, it is only that help you.
You dont know, how badly i want black suito from this, but chance horrifically small, compare to this. I already have blue now (25 silv fish), and not ever 1 cool fishing rod and not red one. Black i seen once, on someone, and thats all.
Btw, problem with crazy chances can be solved on server side with chance modulation. Every time when chance fall off needed values its modifies. So, if you fish with 50% chance, for example, and get failed once, next one attempt should be 100% chance (+50% modulation). For 7.1% it harder to calculate, i dont know formula for that, but it must be guarantied success on 15th cycle (100/7.1 ~ 14.08). It can be reached even without modulation, just need to cut the line of total fail (here it 15) and for the end of tries you automatically get success (on 15). Or, at least, on 30, so no more >30 mins for 1 fish.
But dont wait for it, just sit your char with 5000 worms on 6:00 and go get sleep irl… or work.