Unmarked map & compass hike. You have to take a test at the Park Ranger office before they let you register to make sure you know how to use a compass & are familiar with back-country backpacking etc. It is very strenuous, but spectacular. Probably one of the only places you can hike without seeing another person. Only saw moose and caribou for 4 whole days. This trip is highly recommended - we loved it. You will find a lot of information and blogs on people who have done this hike as well as the Long Range Traverse which starts in the same spot, but goes the opposite way once you reach the top of the gorge. It is a day longer, but not as difficult - although still an unmarked map & compas trail. I understand what makes the North Rim more difficult is the Tuccamore trees which are the narliest, most difficult tree to get through - I think they are very old wind stunted pines or something along those lines - they are crazy. We were lucky enough not to have any rain the whole time we were there, but the evening brought very heavy dew and if you don't have your gear safely under tarps or in the tent, it will get soaked.
Bring moskito nets for you head or more, just in case, when we went (end August) the blackflies were terrible. A group of 10 people had turned back the day before because they were not prepared and had no nets. They took the boat tour in in the morning and got back on the afternoon tour to get out.
Here is the park website with a lot of info on the 2 trails.
Go to the Western Brook Pond and take the boat tour (if I remember correctly, about $35.00/person). You have to buy your tickets at a restuarant in town - the website tells you where. The boat tour will drop you off at the end of the pond, at the bottom of the Gorge, which you will hike out of to the top - this is very strenuous (we got lost it took us 7 hours instead of 2.5 or 3 so we never made any of the camp sites). Listen to what all the websites say about sticking close to the little waterfall and not veering too far right - don't follow the animal trails (& tracks of lost hikers!!).
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