Another Mystery Picture.

I found another catfight picture that requires identification. But before I show you that, I have to show you this pulp cover. No doubt back in the day it inspired more than a little pearl-clutching from the usual suspect: churches, ladies' groups, moral crusaders and so on.

The implication being that in the future women's boxing has taken an extreme form. It must be said that the blonde brawler seems remarkably unmarked by her profession so I suppose plastic surgery has become really, really good in the year 2100.
The artwork on the cover does not match up to anything inside this issue however it may have inspired another artist later on.

 Going by the art style this picture is probably from another Men's mag dating from the 1950s/1960s. One of those "I was captured by cannibal lesbians"  affairs that seem to have been all the rage back then. Although not as terrifying as the If cover, this is still a bloody fight. Look closely and you'll see both girls are wearing some sort of spiked knuckleduster.  You'll also note the writing at the bottom that confirms this illustrates some sort of story.
  And also that both girls have spectacular tits.

Does anybody have a clue where this came from?