This song was on the "Singalong Jubilee" album, performed beautifully by Jim Bennett. His was close to the Smilin' Ivan Dorey version listed above. 1st verse, with chords (ChordPro format):

Come and [Em]listen to a story I will tell to you
Of the graveyard [D]of the [Em]deep,
Where the ships are caught by the shifting sands
And remain in [D]eternal [Em]sleep,
Where the [D]mountains high meet the [G]pale blue sky,
The [D]great white breakers [G]roar,
And the [C]moon at night sends its [G]veiling light
On old [D]Sable Island [G]shore.

I think (but it's hard to tell for sure) that Jim sang the second-last line as "failing light" instead of "veiling light" - either one works.