The name refers to a lush abundance of lichen on rocks all over the hilltops in this area, not to the cache location itself. No need to disturb any lichen to find the cache.
If you're not familiar with the trails, please take along the CRD Parks map to make sense of the signs at trail intersections. Note the trail signs that point in one direction indicate where the trail takes you to rather than the name of the trail itself. From either the Endurance Ridge trail access on East Sooke Rd. or from Parkheights Dr., combine this cache with Bear's Tedious Hike and Plantman 0.5 for a really interesting longish half-day hike, fairly strenuous with several steep spots to scramble up and down and some wet areas in winter. If you choose the Parkheights access, park at the intersection of Parkheights and Leda then on foot continue on the narrow continuation of Parkheights (which has been made to look like a driveway but isn't) about 350m to the park boundary.
If you want to take in some of the great cache locations along the Coast Trail, be aware that although the main interior trails are relatively quick, the coast trail takes much longer than it looks like on the map!
The cache has a few little items in case you want to trade, but is mainly intended just for logging.