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Yes - you are 100% right. However what often looks like Queens chain on a cadastral map can also be either Road reserve (the so called paper road) or Esplanade Reserve. The interesting thing about esplanade reserve is that it DOES move with the river.
And you are also correct... in our case the river went through the Queens Chain and the Paper road.. both which are now well out into the river.
On the use of a queens chain... my understanding is that it was created for fishing access...?
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