Cheltenham's big Festival Trials Day on Saturday could be run 24 hours later if the meeting is abandoned.
Groundstaff have been working overtime to shift the snow which fell on top of the frost sheets, which has given course officials renewed hope of the fixture going ahead.
However, more snow is forecast, which would once again put the meeting in doubt.
Cheltenham is, however, continuing to liaise with Channel 4 about the prospect of televising the meeting if it is rescheduled for Sunday.
A statement issued on behalf of Cheltenham read: "Cheltenham racecourse is due to stage Festival Trials Day this Saturday and, as a result of the hard work of the groundstaff in removing snow lying on the frost covers today, there is increased hope that the meeting can go ahead as scheduled on Saturday.
"However, a further one to two centimetres of snow is forecast and, in the event that the course is unraceable, Cheltenham has reached agreement with the British Horseracing Authority that, weather permitting, the Trials Day could instead be staged 24 hours later on Sunday, 27 January.