George, not quite what you asked for maybe, but check out Declan O'Rourke's 'Marrying The Sea - Till Death Us Do Part' for a modern song written in a traditional, timeless style. I don't think he is generally considered to be a folk artist, but given the style of this track, I think he must have roots in folk music. There is a video on YouTube that uses it as a soundtrack if you want to hear it, sadly the video is about a young man who died in the sea, posted by his best friend. The video is called '15 april the following day'.
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