This mod places ground tiles beneath any ores that would have otherwise been eaten by water tiles. This means that resource patches on coastlines will generate fully intact, and you may sometimes find resource patch islands. As a result, generating a world with water enabled no longer means losing out on resources.
All modded resources should be supported by default. Let me know if you find an ore that doesn't work.
This mod doesn't support oil by default, but you can toggle that feature in the mod startup settings. (I recommend using a mod that adds offshore oil instead).
There is also a setting named pretty vanilla ores that will make vanilla ores generate on water by raising the elevation beneath them. This causes errors with some mods that add planets, so I would recommend enabling this setting, generating all your planet surfaces in the world creation previewer, and then disabling it if you get errors. When disabled, vanilla resources will still generate over water as all modded resources do, they just won't look as natural.
Lastly there is a setting for disabling islands. When enabled, this setting should(!) prevent any vanilla resource islands from generating. You may still see some resource islands very close to the coast due to their high elevation. The pretty vanilla ores setting is required for this to function properly.