06/28/85 Newfoundland, Canada. Saw a large spherical shaped object hovering for about ten minutes.

Siting - Gander Area  Newfoundland, Canada  This event took place in 1985.  I realize that this was 22 years ago, but it deserves telling and some attention.
My two brothers and I were on a fishing trip in a place called Bear Cave Road which is located behind  Indian Bay, Newfoundland, Canada. We camped on the edge of a lake called Alley’s Pond and just after dawn on the following morning,  I got up and went outside to try my luck with some early morning fishing.  It was a clear morning with not a cloud in sight and as I looked toward the opposite side of the lake in  the eastern sky, I saw a large object hovering above the tree line about a kilometer away.
The object appeared to be about a hundred meters or more across. It was saucer shaped and had a string of orange lights on the outside edge of the object which seemed to be moving around the outside circumference on the edge of the object. Although it reflected some sunlight, it appeared to be of a dull coloration. It remained motionless in the sky and I went to alert my brother who was up and about. We both stared at it for a minute or so when I suggested that we go over and have a closer look. We both got in a boat which we had and started up the outboard motor. All this time it still remained motionless about a hundred feet or so above the trees.
We only moved about a hundred feet when the lights turned a blue color and the object moved at very high velocity at a forty five degree angle away form us. It did not make a sound and in an instant it was gone. To this day, I cannot get this experience out of my mind. My brother and I both saw exactly the same thing and we will occasionally bring up the subject, but otherwise it is all but forgotten. I did not report the experience mainly because quite frankly I didn’t know who we could report it to until now.
Witness indicates that the date of the incident is approximate.  PD