Mast bearing standard (4)

I believe the answer is:

spar

'mast' is the definition.
(thesaurus)

'bearing standard' is the wordplay.
'bearing' becomes 's'.
'standard' becomes 'par' (I've seen this before).
's'+'par'='SPAR'

(Other definitions for spar that I've seen before include "Translucent mineral" , "Stout pole to support rigging" , "Box - mineral - rod" , "Crystal - box" , "Mineral; strong pole" .)

I've seen this clue in The Telegraph and The Globe and Mail.

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