The depression was probably formed by a volcano beneath a glacier and could have been a warm, chemical-rich environment well suited for microbial life, researchers said.
"We were drawn to this site because it looked like it could host some of the key ingredients for habitability - water, heat and nutrients," said lead author Joseph Levy, a research associate at the University of Texas in the US.
The depression is inside a crater perched on the rim of the Hellas basin on Mars and surrounded by ancient glacial deposits.
Another depression in the Galaxias Fossae region of Mars had a similar appearance.
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"These landforms caught our eye because they're weird looking. They're concentrically fractured so they look like a bulls-eye. That can be a very diagnostic pattern you see in Earth materials," said Levy, who was a postdoctoral researcher at Portland State University when he first saw the photos of the depressions.
Study collaborator Timothy Goudge used pairs of high-resolution images to create digital elevation models of the depressions that enabled in-depth analysis of their shape and structure in 3-D.
"The big contribution of the study was that we were able to measure not just their shape and appearance, but also how much material was lost to form the depressions. That 3-D view lets us test this idea of volcanic or impact," Levy said.
The debris spread around the Galaxias Fossae depression suggests that it was the result of an impact - but the known volcanic history of the area still does not rule out volcanic origins, Levy said.
The analysis showed that both depressions shared an unusual funnel shape, with a broad perimeter that gradually narrowed with depth.
The interaction of lava and ice to form a depression would be an exciting find, Levy said, because it could create an environment with liquid water and chemical nutrients, both ingredients required for life on Earth.
The findings were published in Journal Icarus.
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