Unknown Navy Shoulder Rank ....Italian Navy or something else?

[100yardsovertherim]

I acquired this mystery shoulder rank and have been unable to get a solid identification for it. I believe it is naval-related and possibly Italian since it came with a confirmed WW2 Italian infantry shoulder rank.  The bullion emblem on the board I did find was used by the Italian navy for mine men, but I don't know if other Navies used the same emblem.  

 

Is this an Italian Navy shoulder rank and, if so, what time period? 

 

Any help anyone can provide is greatly appreciated.

Thanks in advance.