Italian Silk and Gold Banner, Date? Translation?

[CampX]

I picked this up a while ago, I had no idea what it was, but it does look interesting.
Can anyone help out with the translation, date..and just what it is?

Not my thing again, however I had never seen one before. this is very fragile

Dean O

[MAP]

I would guess a veteren (?) association for the italian Bersaglieri (an elite unit of the Italian Army). Probably WWII as the Italian Facist symbol has been removed.

Michael

[harryamb2]

I think the same.very nice piece Dean.