The song having been a popular song in the '70's, was it, I doubt that it has religious implications.
If you are a Christian, which I am, it's nice to think of the implication, "drinking of the Living Water." However, this isn't the place to push our religious beliefs.

That's a whole "nuther" story, if you know what I mean.
This above all: To thine own self be true. -- Shakespeare
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Psalm 119:105 Thy word is a lamp unto my feet, and a light unto my path.