Ice Lake trout lowrance chirp 2 loosing jig at deep depths

I’m new to ice fishing for lake trout. Went out last weekend and was fishing 120’ of water, I lose my 3-4” lure at like 80’. I played with my settings for an hour, could mark fish just not my lures, I tried several. Any ideas to help me? I was told I should not have issues with that size lure at that depth.
Lowrance chirp 2 triple shot with ice transducer.
Settings: frequency 200hz
Sensitivity 72%
Noise rejection: low
Scroll speed 8
Ping: max

I played with sensitivity just screen just gets so full of I go higher.
Any suggestions would be greatly appreciated.
Thanks

Could be a few things

Absolute #1 being water current. Was your line going directly down the hole or swinging off to the side? Where were you fishing?

Did you try using Chirp?

Does your graph have a setting for TVG? (Time Valued Gain) If so, did you play with it? (It adjusts targets to read the same size signal regardless of depth, aka strengthens returns farther from the transducer and weakens ones closer so they all appear the same)

Did you play with “surface clutter” to see if that made a difference?

Did you try rotating the transducer? Some ice transducers don’t point perfectly down, most guys never notice it because they’re typically fishing 40′ or less.

There Was just a touch of current, I did try to play with drilling a hole a few feet up current for the transducer.
Chirp I didn’t try much, I thought chirp was a under 40’ thing. I obviously could have been wrong about that, I’ll try more.
I don’t like I have “TVH” where would that be?

I’ll definitely try it again and play with the transducer more. Thanks for the advice.