Known locally as 'the vanishing lake', Loughareema (meaning the lake that runs out) has become famous due to its ability to pull off a unique geological magic trick.
In the morning, the lake appears like any other, and can be completely full. Yet just a few hours later, you may return to find the water having completely disappeared.
This marvel has baffled geologists and locals alike, leading it to become the site of much spooky legend.
It is said that on nights when the lake is full, a phantom haunts the shoreline. In fact, there have been claimed sightings of such a creature, which appears as a grey or white horse-like creature that's able to adopt human form.
According to The Geological Society, it is one of Northern Ireland's most enigmatic geological sites.
"Loughareema is a dynamic landscape and on approach to the lake it's exciting to guess what state it will be in", said Dr Paul Wilson, a hydro-geologist at the British Geological Survey who recently embarked on a detailed study of the site.
There is an underground drainage system beneath it, which fills up through a sink at the bottom of the lake.
However, this underground system is not very well understood.
"The details of it we currently know very little about", said Dr Wilson.
There are no rivers flowing out of the lake, but there are three flowing in, and in a theory proposed by Live Science, these rivers bring debris to the bottom of the lake which eventually covers the underwater basin.
This causes the water level to rise, which puts pressure on the drain and unblocks it, causing the water level to rise and fall.

Storyteller Stephen O'Hara told North Word NI about the reputation of the lake among locals.
'Something about the smooth hillsides which taper down centrally to form the little hollow in which the lake lies, makes it a nerve-tingling journey."
He added: "Loughareema is not a place to find yourself after dark, and most certainly not during heavy rainfall.
"For a hand may strike out at you from the darkness, grabbing for anything to hold onto".
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