A canoe could be lost in it (5)

I believe the answer is:

ocean

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'lost in it' is the definition.
I can't judge whether this defines the answer.

'a canoe could be' is the wordplay.
'could be' indicates anagramming the letters.
'canoe' is an anagram of 'OCEAN'.

Can you help me to learn more?

(Other definitions for ocean that I've seen before include "Immense expanse or quantity" , "eg Indian, Pacific" , "Pacific, perhaps" , "Sea - canoe (anag)" , "Large amount of water and" .)

I've seen this clue in the Evening Standard.

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