This is the most definitive information I have read on the tune. Thank you!
As for location, I think the reference to the Blackwater River in the lyrics suggests the Kerry location. Though there are about half a dozen Dromore Castles and a few Blackwater Rivers, this is the only Dromore castle situated on a river called Blackwater. Not proof, but evidence.
Thanks to the Mudcat I was introduced to this song. It became and remains one of my favourites. My multi-track midi sequence is here.
Question for y'all: What recording of the song would you recommend? The one I've seen mentioned most often is that by Bok, Muir and Trickett.