I've semi recently started a new hobby called Geocaching. If you haven't heard of it, it's like a world wide treasure hunt using a GPS. More information can be found at www.geocaching.com. In my search for new and interesting caches, I've come across a puzzle cache that I cannot figure out. It's almost like you have to be in the guys head to know what the heck he was thinking (and I am not even close to the same brain waves). I'll list the puzzle and various clues below. Let's see if any puzzle fans can figure it out!

First, the given coordinates are N 39deg 46.629 W 086deg 00.153

While these coordinates are not the location of the cache, they won't be two far away, maybe ten miles. So... when solving the puzzle the first two numbers of each will remain the same.

Second, the owner of the cache left a clue to solve the puzzle: "The solution is composed of two elements. Squared."

Third, there are some letters in the puzzle... they may need to be switched with the geo decryption, but I doubt it... if that looks like the case I can post the key later (I don't think it is).

Fourth, the puzzle is the following picture:



Good luck to anyone that replies? And, thanks in advance.