The previous voltage divider design is suitable for only measurement of higher values of resistance (50 Ohm to 1 MOhm) to measure very small value resistance we have built this circuit, it consists of constant current source of 100mAmp. Measuring voltage drop across a resistor having constant current gives us resistance value (R = V / I).
Calculations
V = I x R
R = V / I
Where:
I = 100mAmp as we are using constant current source of 100mAmp
V = Measured by Arduino
Constant current source is built using LM317
Iconst = Vref / R where: Vref of LM317 is 1.25V
Iconst = 1.25 / R
Iconst = 104mAmp

Circuit connection for low value resistance measurement

Low Resistance (0.1 to 50 Ohm) Measurement Arduino Code

/*
  Resistance Measurement (0.1 to 50 Ohm)- www.circuits4you.com
  Reads an analog input on pin 0, converts it to resistance, and prints the  
  result to the serial monitor.
*/

// the setup routine runs once when you press reset:
void setup() {
  // initialize serial communication at 9600 bits per second:
  Serial.begin(9600);
}

// the loop routine runs over and over again forever:
void loop() {
  // read the input on analog pin 0:
  int sensorValue = analogRead(A0);
  
  // Convert the analog reading (which goes from 0 - 1023) to a voltage (0 - 5V):
  float voltage = sensorValue * (5.0 / 1024.0);

  float Rx = voltage / 0.104;

  // print out the value you read:
  Serial.print("Resistance:");
  Serial.print(Rx);
  Serial.println(" Ohms");
  delay(1000);
}

Result of Resistance Measurement

Open the serial terminal and see the resistance value. This code and circuit will not work for values more than 50 Ohm as 50 * 100mA = greater than 5V.