Raunchy guy starts sounding out wild party (4)

I believe the answer is:

orgy

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'wild party' is the definition.
(orgy can mean a boisterous party)

'raunchy guy starts sounding out' is the wordplay.
'starts' says to take the initial letters.
'sounding' becomes 'oy' (I can't explain this - if you can you should believe this answer much more).
'out' indicates putting letters inside.
The initial letters of 'raunchy guy' is 'rg'.
'rg' put within 'oy' is 'ORGY'.

Can you help me to learn more?

(Other definitions for orgy that I've seen before include "Gory (anag.)" , "Depraved scene" , "Riotous celebration" , "Wild revelry" , "Binge" .)

I've seen this clue in The Irish Times.

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