You might consider the algorithms for Formal Concept Analysis (FCA). Following is a paper that applies FCA for constructing lattices of hypernyms and hyponyms from WordNet, Roget's Thesaurus, and other lexical resources:
Priss, Uta; Old, L. John. "Modelling Lexical Databases with
Formal Concept Analysis." Journal of Universal Computer Science,
Vol 10, 8, 2004, pp. 967-984.
The authors have a web site for Roget's Thesaurus that lets you type any word and get a little lattice of all the paths from the top to that word:
Type any word in the slot, click submit, and a little lattice pops up. The default word is 'explore'. Another interesting word is 'happy'.
The authors also applied FCA to WordNet. For more information, contact the first author (see the cc list above).