"WATER DISCOVERED ON MARS" become "It has been discovered that there is water on Mars"
Why isn't it "It was discovered that there is water on Mars"?
It has been discovered that there is water on Mars. eg Maybe scientists right now are excited about this.
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It has been discovered that there is water on Mars. This makes it sound more like the discovery is important to the present situation.eg Maybe scientists right now are excited about this.
The linking verb is usually omitted in headlines. I'm assuming you found this at the beginning of a newspaper or magazine article. In this case I'd say the missing linking verb is the present perfect of BE.
WATER HAS BEEN DISCOVERED ON MARS
CJ