Of tribal significance, it can carry a lot (5)

I believe the answer is:

totem

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'of tribal significance it' is the definition.
I can't judge whether this defines the answer.

'carry a lot' is the wordplay.
'carry' becomes 'tote' (toting is a kind of carrying).
'a lot' becomes 'm' ().
'tote'+'m'='TOTEM'

'can' acts as a link.

Can you help me to learn more?

(Other definitions for totem that I've seen before include "Emblem of a clan" , "Symbolic pole" , "Emblem of kinship among native Americans" , "Revered symbol" , "Symbol given (undue) respect" .)

I've seen this clue in the Evening Standard.

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