Lone Ranger's companion gets gold in Canadian city (7)
I believe the answer is:
toronto
'canadian city' is the definition.
(I've seen this in another clue)
'lone ranger's companion gets gold' is the wordplay.
'lone ranger's companion' becomes 'tonto' (I've seen this in another clue).
'gets' is an insertion indicator (gets can mean captures or absorbs).
'gold' becomes 'or' ('or' is the heraldic name for gold).
'tonto' going around 'or' is 'TORONTO'.
'in' is the link.
(Other definitions for toronto that I've seen before include "North American city" , "Ontarian capital" , "major city" , "Canadian city" , "Big city" .)