#TL;DR: No, it won't#

...because many things. 

First, you can calculate how much current it takes, because power equals current times voltage, ie. P=I*V

You know the power, you know the voltage and you should know already that I = P/V so your fan draws 1.7/5 = 0.34A = 340mA

Now, maximum current per GPIO pin is 16mA, according to https://raspberrypi.stackexchange.com/a/9299/51759

So it's impossible to run because **there isn't enough power available** from pure GPIO.

Next thing is voltage. Your fan is rated 5V. GPIO outputs 3.3V. So even if you manage to get enough current from your pin, **fan won't have enough voltage** - should start (it's not guaranteed tho), but won't reach it's RPM.

But don't worry, it **is** possible to connect your fan. Just use NPN transistor like 2N3904, connecting it's base to your GPIO pin through 1Kohm resistor. It's well documented here: http://elinux.org/RPi_GPIO_Interface_Circuits#Using_an_NPN_transistor
along with many alternative designs, so I highly recommend visiting this site.

I took a sample NPN circuit from there:

[![enter image description here][1]][1]

You just connect your fan instead of load and use one of the 5V pins (not the GPIO!). Keep in mind that your power supply should be capable of delivering enough energy to keep both Pi and your fan powered at the same time, so don't connect electric heater there ;)

  [1]: https://i.sstatic.net/oE9W6.png