Penetangore is I think an Ojibwa (various spellings) group of words that mean 'river with a sandy bank on one side'. I read that somewhere a few days back.

Thing is, you heard the song, so it is out there. Whether it's on the internet is another question which at present needs answering. The problem is that one cannot prove a negative. Please let us know if/when you receive an answer from the town. That would be much appreciated.