Here's an email I got a couple of years ago from an inquiry to the Canadian Government.Just in case anyone wanted to know.
Thank you for your e-mail inquiry of 18 August 1998 asking about the history of Cape Chidley.
Our Internet search site does not have information about the origins of the names on the site at the request of the CPCGN members.
Cape Chidley was named by the explorer, Davis, after "the Worshipful M. John Chidley of Chidley in the countie of Devon, esquire, who ws apparently chief promoter of an expedition which sailed anno 1589, for the famous Province of Kranco on the coast of Chili by the streight of Magellan."The source for this is the 9th Report of the Geographic Board of Canada, 1910 (now out of print).It has been quoted also in Encyclopedia Canadiana (circa 1962-1964).We have no further information on the name.
We trust that this is the information you were looking for.