Paul McKenna
The influential midfielder is not as badly injured as first feared.
Scans have revealed that McKenna has damaged the medial ligament in his knee – but not as severely as initially thought.
Davies is still facing several weeks without his skipper.
But he said: "The extent of Paul's problem is not as bad as we first feared.
"He will be out of my plans for several weeks but knowing Paul as I do I wouldn't necessarily rule him out for the rest of the season."
McKenna does not require surgery to the injury, which is in his right knee.
He will miss the weekend trip to face his former club Preston, when goalkeeper Lee Camp will take the armband.