2nd Australian Army Formation Sign?

[Chacal]

Good day gentlemen

I got this attached patch in a job lot a year ago and it has been a bit of a puzzle, however I now think I’ve successfully ID’d it as 2nd Australian Army. What I’d like to know is am I right in my identification? Is it a genuine item? It appears to be unused, a loose thread burned, rather than melted, so is not man-made fibre. It does, however, feel soft unlike unissued British printed signs which are often stiff. And is it possible to give a date for it’s use?

Caveat: once these questions are answered to my satisfaction it will be available for swap or sale (or the bin, if a fake).

Thanks for looking

Graham