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. Tuktoyaktuk is the anglicized form of the community's Inuvialuit place-name meaning "resembling a caribou". Legend has it that when caribou were plentiful in the area, a woman looked on them as they waded into the water and the caribou petrified. Reefs resembling caribou have been seen at low tide.
Although there are no formally declared archaeological sites, the area has a long history of use by the people of Tuktoyaktuk. People of Inuvialuit descent comprise the majority of the population in the Hamlet of Tuktoyaktuk. They depend on the plants and animals of the area to be established as a landmark. The Inuvialuit rely on the hunting of caribou in the fall, ducks and geese in the spring and fall, and fishing throughout the year. Other uses of the peninsula by the local community include trapping, collecting driftwood, berrypicking, camping, and picnicking. Once an area traditionally home to the whale-hunting Karngmalit Inuit, Tuktoyaktuk has become the sea-edge base for oil and gas exploration in the Beaufort Sea. Other major activities include transportation, communications, and reindeer herding.

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