This is an image of the central pit of an impact crater in the ancient highlands.
The central uplifts of large impact craters often collapse to form pits on Mars, but they are still structural uplifts and often expose deep bedrock with diverse rock types which have a variety of colors.
In this enhanced color subimage, we see colorful streaks, where the bedrock is eroding, moving downhill a bit, then getting swept by the wind.
Photo credit: NASA/JPL/University of Arizona
Note: This crater is located in the Memnonia Quadrangle; the closest significant crater to this location is Magelhaens Crater, which is named after the Portuguese explorer, Fernão de Magalhães (1480-1521), better known in the English language as Ferdinand Magellan. Magelhaens Crater is to the southeast of this image.