I *THINK* I have solved or partially solved the mystery. I posted in several forums and lists as well as my private email contacts....
(Sheesh... that guy again!)
But got several private PMs and it appears that early 50s or perhaps even late 40s Matchless used something strikingly similar. We have a 1940s Norton ES2 and its fender is similar but different. I was so sure it was Ariel or BSA though I discounted Matchless after looking at several models. (Thanks to all who responded).
Its possible other makes and models used these, as some manufacturers used common sources but at this point calling it early AJS or Matchless. I DID fail to use resources though, and while going thru a stack of mail, Noticed the recent issue of the "Jampot" the UK based Matchless and AJS club magazine/newsletter and it appears,,,,,,, right under my nose, there is a bike on the cover with a similar if not the same fender.
(Early G9, but I got an email that a fellow has the same on a 1950 AJS).
And lastly for KiwiProm. Correct,,, I have several Goldies, however, the problem is getting parts and they are getting exceedingly expensive so likely in the near future I will be selling one of them that still needs parts and focusing in more viable ones. (48-49 Bitsa ZB GS,52 ZB GS, 54 CB GS, 55 CB GS, 56 DB GS) But a great picture, I slurped it... and one in return.
RIP Roslaw Z, Creator of the iconic British Steel imagery for JP. (Rob Halford is pushing his 70s and we saw them in Feb, they are coming back to my area in June and put most bands to shame, People walked out of the last show dazed, befuddled and blood coming from their ears. Maybe it was opener Saxon who contributed)
See:
https://www.revolvermag.com/culture/judas-priests-british-steel-story-behind-cover-art