If you've never targeted lakers through the ice before, I would suggest doing some research prior to going.
Like others have said...on Simcoe, you'll do fine on Kempenfelt Bay. Anywhere in the bay can have potential for lakers as long as you're close to deeper water. I will personally fish anywhere from 40-120 feet of water.
If you want success, best to use electronics. I'm not saying it's impossible to catch a laker without one, but your chances will be increased dramatically.
It's going to be cold this weekend. A shelter with heat will be necessary if you want to enjoy your day and be comfortable.