The Clearcut is one of the locations within Mystery Lake.
There aren't many features here. Its a large clearing with stumps and log piles, and a perfect spot to get ambushed by a Wolf. Its mostly a crossroads to the Forestry Lookout to the West and left and the road to the logging camp and back to the train tracks to the east. If you continue west, around the mountain it will eventually lead to the Cabin and Unnamed Pond.
Its worth looking around a little. There is occasionally a drop or two in the area.