Follow the path down to the water. On the left is a partially submerged hut with some gold and supplies inside.
There are various resources scattered around the bottom of the pool, a deposit of gold ore in the north wall below the high-diving platform, which we'll get to momentarily.
There's also some jade hidden in a little cave on the southeast side of the pool.
Climb out of the water on the northwest bank, near the entrance to the black wolf den. Dig up a survival cache (19/34) just to the right of the cave entrance, and loot the resource container off to the right. Now, if you like, you can enter the den and fight some wolves. This is not necessary for 100% completion, but you will get some supplies, gold, and an explorer backpack, which will help find other survival caches and a crypt entrance.
If you do decide to fight, you only have your bow at this time, no guns, so you may want to move into the cave and draw the wolves out a few at a time. They attack first from ahead and from the right.
NOTE: The fight is very similar to the one in the wolf den in the Howling Caves Challenge Tomb in Kuwaq Yaku, so if you need additional help, such as with the dodge/evade mechanic and QTE button prompts, check out that section.
If things get rough, you can run back to the pool, where the wolves won't follow.
You may be able to shoot from the shallow water, but after a moment, the wolves will return to the cave, and you'll have to go in and get their attention.
Once you've defeated the wolf pack and the black alpha wolf, take their hides. Black wolf hide (a.k.a. "sparkle fur") is a rare resource, used for crafting outfits. So even if you don't have inventory space for regular hide, you can still get it.