June 1 (Reuters) - Ausquest Ltd
* South32 commits to third project in Peru
* South32 commits to third copper-gold project in peru as strategic alliance advances
* South32 will fund drill target definition work at cerro de fierro prospect, expected to commence in july/august 2017.
* another of company's exploration projects is being supported by south32 alliance
* cerro de fierro iron-oxide copper-gold project in southern Peru has been accepted as a new "exploration opportunity" by its strategic alliance partner South32 Source text for Eikon: Further company coverage: