No it isn't - and you have a word wrong in that line - it's awakens and not emerges -

'I skimmed across black water
without once submerging
On to the banks of an urban morning
that hungers first light much, much more
than the mountains ever do

and she like a ghost beside me
goes down with the ease of a dolphin
and awakens unlearned, unshamed, unharmed
for she is a perfect creature,
natural in every feature
and I am the geek with the alchemist's stone'

Jimmy mentions writing the song after experiencing a 'hands healing' from a woman in Dingle during a time when he was unwell.

He explains all his songs in his book - Ride On - in song and story' TownHouse, ISBN 1-86059-169-8, pp220