The regional council's technical committee chairman Andrew Noone said a more intensive research programme could now get under way to understand the organism and work towards potential solutions to minimising the effects of lake snow.
At this stage there were no plans to introduce new measures to stop any potential spread of the slime, such as those put in place when didymo was discovered, Cr Noone said.
''It's not 100% certain yet but seems fairly clear this is an invasive species, but we still don't know how this has got into the country.''
It was clear the issue now needed to be headed at a governmental level with input from the regional councils, Cr Noone said.
The regional council would now work with Environment Canterbury, Environment Southland, and the Ministry for Primary Industries to identify appropriate ways to manage lake snow.
He acknowledged some residents in the Queenstown Lakes districts felt the council had been too slow in acting on the problem but wanted to reassure them it was heading towards finding a potential solution.
The report was the first in a series of studies designed to gain a greater understanding of the organism and the formation of lake snow.
Guardians of Lake Wanaka chairman and the Guardians of Lake Hawea member Dr Don Robertson said the study was a positive step in understanding lake snow but more research was needed to understand whether the organism could be controlled and if so, how.
''Maybe it's possible to manage, but given it's a fraction of the size of didymo and didymo has been very difficult to manage, despite a very active programme of check, clean and dry for the past 10 years, we will have to wait and see.''
Dr Robertson said comprehensive management and a monitoring programme was still needed on the health of the southern lakes, not just to control lake snow but also to understand and manage the overall health of the lakes and their catchments.