Plans are to install a platform in the Gulf of Mexico this month with drilling starting in April.
The two month-long expedition will involve extractions at depths of almost 5,000 feet under the seabed.
Science reports that, during this time, the team will take a continuous series of incremental samples, "looking for changes in rock types, cataloging microfossils, and collecting DNA samples."
As researcher Sean Gulick with the University of Texas, told CNN, "We expect to see a period of no life initially, and then life returning and getting more diverse through time."
This is because the impact is believed to have wiped out most of living things on Earth.
The research team is particularly interested in a mysterious ring of rocks which circle the middle of the crater and evidence of ancient organisms buried in the sediment.
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