So, I have been in contact with BLM, NPS and Navajo representatives. While some do believe it is nothing more than water erosion of rock, shadows, etc. and likely natural, a few things are confirmed:
1. Despite the surrounding well known sites, trails, boaters, etc..; it is a very remote site.
2. Only way to access it (without hiking 10+ miles one way), would be through one of two canyons from the water.
3. There is no historical documentation of Native art/glyphs, etc for this area, nor any survey data.
They did agree it is very intriguing, obviously can’t say without having actual eyes on it. The Navajo representative also stated as I mentioned before, that if someone does plan a trip, he would love to go.
I have family nearby in Durango, I could potentially be taking a trip in the semi-near future, but if anyone else plans a trip, please keep me in the loop. I would love to see what it really looks like close up. Thanks again to everyone for all of the information that was provided.