Gasp terribly at holes (4)
I believe the answer is:
gaps
'holes' is the definition.
(I've seen this in another clue)
'gasp terribly' is the wordplay.
'terribly' indicates an anagram.
'gasp' is an anagram of 'GAPS'.
'at' acts as a link.
(Other definitions for gaps that I've seen before include "Breaks, spaces" , "Breaks or openings as in hedge or fence" .)
I've seen this clue in The Mirror.
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