There's a small bit of off-trail by crossing from the Notch Pass to the end of the Clyde Lake trail (or vice versa, depending on which leg of the loop you do first) and I'm not actually 100% sure that you can circumnavigate the entire lake without a lot of really ridiculous boulder hopping. But it's a nice day hike. Even taking a break at "The Notch" and again at Ibantik to explore, it's a relatively short trip, the elevation gain (and lost) isn't too bad (and I've heard it's also quite gradual, which is nice) and the views are spectacular. For example:
|View from the Notch pass|
Map of the hike.