This looks like either a rejected page or a redrawn page from JIMMY OLSEN 141 (page 14 or 15) by Kirby. For a series with only 5 issues by Kirby, JIMMY OLSEN has at least 4 rejected covers, and this among possibly other rejected pages. My impression is that DC made doing JIMMY OLSEN a royal paain in the ass. Al Plastino redrawing the Superman and Jimmy heads in 133-134, and Anderson inking their heads on the rest of the series, except for 146-147 that were fully inked by Royer. They wanted to make Kirby's issues conform with the Swan/Anderson issues, and I know from interviewed it pissed Kirby off (one of the most accomplished artists in comics history) for editors to feel they had to "correct" Kirby's verssion of Superman and JO.
Thank you for acknowledg'n (quite eloquently, I might add) onea my fav images by the King. All I know is I started seeing it from friends (Jeremy and Jason come to mind), and couldnae understand why it wasn't a published cover/splash. Hopefully, Taschen or SOMEBODY will see the significance, and published a book on the Jimmy Olsen Syndrome