In the days of the world gold rushes a forty-niner refers to miners of the great 1849 Californian gold rush.
Iron pyrites became known as fools gold. Pyrites is found on the Isle of Luing slate
Luing has bling
If you look at the slate
Shining in a natural state
Cubists take note
It’s not to be
This is not gold
Its pyrites you see
You may look a fool
If you believe its gold
No use prospecting
As of days of old
Don’t quit a job
To become a miner
Take a tip from an old forty-niner
If you have a daughter
Don’t call her Clementine
Don’t come to Luing
To work in the mine
But if you seek riches
As miners of old
All we have here
IS fools gold