Crossword Genius

Very old tin with cane, thrashed (7)

Ross

I believe the answer is:

ancient

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'very old' is the definition.
(I've seen this in another clue)

I don't understand how the rest of the clue works.

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(Other definitions for ancient that I've seen before include "Very old, belonging to times long ago" , "Belonging to a former age" , "Early" , "Bygone" , "Veteran" .)

I've seen this clue in The Telegraph.
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