This is a great method for fishing waldos and lakers. Could also be used for giant northerns in deep water.
All of us are familiar with Lindy Rigs or live bait rigs. Some use 3-way rigs with a weight on a dropper line.
I've found an easier, more versatle rig that works well for canoe trips. Snap weight clips are sold by Off Shore Tackle. I use the OR16 size. Use is simple. Attach the provided split rings to the clip.
Now here's the fun part. We all know how crucial it is to keep our tackle weight and bulk low enough so that we aren't tempted to empty the tackle box in the middle of a long, tough portage.

I can use any combination of weight from 1-5oz and only carry 5 oz. I carry 1 1oz, and 2 2oz teardrop sinkers. The snap can go whereever you want to attach it on your main line.
For 3oz, attach both 1&2 oz sinkers.
For 4oz, attach both 2oz sinkers.
For 5oz, attach all 3 sinkers.
I actually seldom use more than 2-3 oz as many fish will come up for a bait better than go down for a bait. I will attach the 1oz to one snap and the 2oz to the other snap. I attach the two snaps next to each other, so that the weights will bang together, creating the noise to attract fish. The sinkers are usually 4-6' ahead of the lure. A great lure to use are flutter spoons w/ mylar. You can also use Rapalas or any deep diver.
If I want to use live bait (I know all about the ban in Canuckland), use Gulp minnows or leeches. They work just as well. Just slowly paddle or wind-drift likely looking spots (or where you just hooked a fish using above method. The sinker banging the bottom will call waldo home for dinner.

Anyway, try it on your next trip!