If it is water this may be the highest latitude yet found for fluid channels. It also appears as if a spider is forming off a fluid channel on the top photo in the martianspiders link.

http://www.martianspiders.com/objects126.htm

http://barsoom.msss.com/moc_gallery/m07_m12/images/M09/M0905128.html

Longitude of image center: 358.96°W
Latitude of image center: 68.50°S
Scaled pixel width: 5.52 meters
Scaled image width: 2.83 km
Scaled image height: 28.68 km
Solar longitude (Ls): 248.04°
Local True Solar Time: 1.69 decimal hours
Emission angle: 0.13°
Incidence angle: 86.37°
Phase angle: 86.30°
North azimuth: 262.18°
Sun azimuth: 105.55°
Spacecraft altitude: 370.95 km
Slant distance: 370.95