That's fine, the resistance is only 0.47 of an ohm, too small for most meters to read accurately. (try touching the prods together and see what the "200" range reads, then subtract that from the 0.7 reading)
If the resistor were burnt out, it would read overrange, for which most meters display "1. "
If the resistor were burnt out, it would read overrange, for which most meters display "1. "
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