Prospect in waterway containing gold (8)
I believe the answer is:
panorama
'prospect' is the definition.
(both can mean a view of a landscape)
'waterway containing gold' is the wordplay.
'waterway' becomes 'panama' (I can't justify this - if you can you should give a lot more credence to this answer).
'containing' is an insertion indicator.
'gold' becomes 'or' ('or' is the heraldic name for gold).
'panama' placed around 'or' is 'PANORAMA'.
'in' acts as a link.
Can you help me to learn more?
(Other definitions for panorama that I've seen before include "long-running programme" , "Scene, vista" , "Wide view (from BBC TV?)" , "Overall view" , "Total view (of subject)" .)