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WD 40 is a Water Dispersant.
Try Kroil by Cano Labs.
There was a recent thread on this subject with some good links and suggestions.
While you are waiting for the repeated applications of Kroil to work over a period of many days, check the pulley bearings and w/p bearing.
No flames ! Save the hammer until the Kroil has had a chance. Did you read the Pelican diy article?
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