Research/Answer in progress
Basics
In order to complete this mission we will need an Iks Ritual Chalice, a rare drop from the Iks Yapunac. The chalice will be used on the ritual bucket at the south end of the room which will be transformed to a Ritualwater. The Ritualwater must be pushed north across the bridge to the empty basins on either the east or west side of the room.

Once the ritual is initiated, a large number of Ancient Ugly Monsters will begin to spawn. These monsters remain at a distance and deal a small amount of damage to the player. If the monsters come in contact with the bucket they will hit it and prevent it from moving for a short time. The monsters will occasionally also drop food under themselves which is inconsequential to the overall ritual.
Duration
The Ritual has a maximum duration of 5 minutes, after this time all of the Ancient Ugly Monsters will disappear. The pushable ritual water will remain for another 5 minutes, however the ritual cannot succeed if the original 5 minute duration has passed.

(Ritual failed, ancient ugly monsters have disappeared and bucket will not fill the basin.)
Cursed Apes
The ancient ugly monsters which spawn before the ritual water is delivered transform into Cursed Apes shortly after. The number of apes spawned is equal to the number of ancient ugly monsters (+/- 50?) and the number appears to not change based on the time taken to complete the ritual.
Bestiary/Weekly Task
The ritual can be completed as frequently as desired and will spawn the cursed apes every time, even after completing the quest. This is a great method if you can find some extra ritual chalices from the hunting ground. But beware, the chalices will disappear around 48-72 hours after being looted.