Metal wings. We believe these were originally gilt but it has worn off with age & use.
Possibly the 1994 version that were used when the S.A.S. trained the Australian Navy "Special Duties" sailors.
"It was introduced in 1994 as the Australian Navy ‘Special Duties’ parachutist qualification for the sailors (primarily clearance divers) who had passed the SAS selection and counter terrorist training cycle in order to serve as part of the TAG (Tactical Assault Group) which at that time was part of the Australian Special Air Service Regiment. Within months of its introduction it was decided that there was sufficient water ops capability within SASR and the requirement to include the CD’s as part of the TAG was removed, making the insignia virtually obsolete overnight as no more sailors would be likely to qualify for it."
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