Resources minister Keith Pitt and industry minister Karen Andrews announced the grant over the weekend, following MPS recognition being granted to TNG's Mount Peake vanadium, titanium, and iron project in recent days.
Finniss is expected to begin development later this year, and will generate an expected 360 jobs during construction and more than 250 ongoing jobs during operation.
Major project status is the government's recognition of a project's strategic significance and offers support from the Major Projects Facilitation Agency, including a single entry point for Australian government approvals, project support and coordination with state and territory approvals.
The MPS is expected to run for three years.
Finniss, located outside Darwin, is currently subject of an updated definitive feasibility study, with a final investment decision targeted in the second half of the year.
Once in production, it will be the first lithium mine outside Western Australia, and the closest to Asian downstream processors, being just 25km from the Darwin Port.
Core managing director Stephen Biggins said the development would help open up a pathway for a critical minerals hub to be established in Northern Australia.
The company was granted 25-year mining lease over the BP33 deposit in January, and raised A$40.5 million at 25c last month.
Mining is expected to begin at the Grants deposit, where recent drilling is expected to grow resources, which are currently 14.7Mt at 1.3% lithium oxide.
Finniss expects to need $85 million in start-up capital, and aims to produce around 175,000tpa from a combined open pit and underground operation.
Earlier this month, Core also entered into a call option with Outback Metals and Victory Polymetallic to potentially acquire six granted mining leases containing over 30 lithium pegmatite targets previously mined for tin and tantalum that are adjacent to Finniss, allowing it time to assess the potential of the areas for up to 12 months.
Core share were up 9% this morning to 24c, valuing it at $276 million. The stock has traded between 1.3-42c over the past year.
