Finding replacements for these "big grey" resistors in a circuit
To echo other users, yes it's a 1 ohm resistor to 5% tolerance. The base colour means nothing, though an experienced eye might be able to narrow down the manufacturer.
Wattage will depend on age and technology. As time went by they got smaller and ran hotter. I'd disagree with another answer as it may well be too old for that size to be 5 W rated; my guess would be somewhere between 0.5 W and 2 W, but it is just a guess.
But it probably doesn't matter; if you replace it with a modern one of similar size, the wattage should be at least as high.