A cavalcade would be a parade or a road, possibly both.
Ilha is "Island" in Portuguese.
Remember Google csn be your friend.
Not seeing the stamp I'd guess either it refers to a Parade of Saint Peter - (on the island of St Michael,)
or
the Road of St. Peter on the Island of St. Michael

Is the image of a road or perhaps a parade of some kind ?
When you write "azures" do you mean Azores" ?

Google "Island of St Michael" in the Azores. and then add "Cavalcade of St Peter on St Michael, Azores, and tell us what you find..
Charlie

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