Kind of tree found in Panama pleasance (5)
I believe the answer is:
maple
'kind of tree' is the definition.
'in panama pleasance' is the wordplay.
'in' says the answer is hidden in the clue.
'MAPLE' can be found hidden inside 'panama pleasance'.
'found' acts as a link.
(Other definitions for maple that I've seen before include "----- leaf: symbol of Canada" , "Syrup-producing tree" , "Tree providing Canada's national emblem" , "Ample (anag.)" , "Syrup-yielding tree" .)