Thank you for your input. It has been very interesting.
I have learned about Type 42 from Norman Friedman's "The Postwar Naval Revolution". The author gives the following specifications of the early version of the project, from October 1951:
length (water-line) 275 ft (83.8 m)
beam extreme 31 ft 6 in (9.6 m)
displacement 1050 tons
draft 9 ft 3 in (2.82 m)
engine power 7,500 shp
speed 22 knots
fuel oil 50 tons
endurance 2000 miles at 12 knots
complement 150
armament: two twin 3in/50, two single 40mm Bofors, one singe Squid
Later on, Friedman says, "As the supply of US equipment under MDAP dried up during 1953-54, the gunboat battery changed to three 4in Vickers single automatic guns, each with its own director".
The Vickers' guns were very similar to those that were then mounted on the Chilean "Almirante Riveros" class destroyers (
http://www.navweaps.com/Weapons/WNCHL_4-62_Vickers.htm). By the way, were the guns designated 4in Mark 25?
Sometime in 1953 the Common Hull Frigate concept appeared, both Type 42 (A/A) and Type 17 (A/S) frigates were to have the same hull and machinery. Work on the common hull frigate began in 1954, its early version would have length of 285 ft (86.9 m) and beam of 38 ft 6 in (11.7 m) and 1662 tons. The gunboat variant would have two twin 4in Mark 19 (i.e. weapons of WW2 vintage), two twin 40mm L70 and one Squid. Then came a little bit smaller design whose armament was halfed as compared to the above-mentioned.
As for the drawing you have posted. It looks very sketchy, but the bow turrets resemble what then became the armament of the Chilean destroyers, the aft one seems to be different. I wouldn't however think that this was the 3in/70, for such a weapon was much more complicated and heavier than the 4in automatic gun (the former weighted 37 tons, the latter "only" about 21 tons). So it's seems higly unlikely that the 3in/70 was to be mounted along the 4in. The aft turret must have then been armed with the 40mm Bofors (perhaps 40mm/70).
So perhaps the drawing shows yet another version of the project, armed with two automatic 4in guns and some Bofors (we don't know if there was a single mounting aft, or there were two side-by-side). It's also possible that the forward turrets are Mk 19 4in/45 mountings, so the drawing may depict the project's version from 1954.
Below there are pictures of the Chilean destroyers and their 4in automatic guns.
Best regards,
Piotr