I do know that but, because I know that very well, I also know that there are actually three voltages in this experiment.As you well know batteries are chemical devices and don't recover instantaneously due to the rates of diffusion to recreate the charge separation needed for normal cell voltage after a sizable (for the type of battery) load. It takes under 100 microseconds to switch modes and do a full ADC measurement on a slow controller and much less than that for the switch and sample-hold function.
http://batteryuniversity.com/learn/article/testing_lithium_based_batteries
- Loaded I*R voltage drop
- Immediately after disconnecting "unrecovered" battery "unloaded" IR drop (your measurement)
- Recovered battery unloaded