From Blaze Hill continue on the track to the Tailbert road. Go across and up the track over Lanshaw Hill. Just beyond the top, turn left along the straight line of a buried aqueduct. Near the wall turn right and follow a path down to the concrete road built for the construction of the Haweswater Dam.
You should emerge near a signpost to Rayside; head down this rare section of tarmac! About where the road bends, go right, across to the gate/stile into the fields, waymark below, and a permissive path along the wall. Turn right at the corner, and follow the path to the cache. It's near a sheep ford, on the east bank under a largish boulder, one of several along the stream.
As you come down and round from High Lanshaw Shap Abbey plays hide and seek in the valley - now you see it, now you don't. Hidden away from various raiders. It's a marvelous place to visit (free!) and one of the most overlooked historical sites of Cumbria. You can drive to the Abbey from Shap.