Portrait in Crystal (1983)
Shaw fantasy/thriller/swordsplay (with horror elements!) exploitationer that delivers.
Definitely has a similar feel as Human Lanterns imho.
Bloody/gory and even has full frontal female nudity...this one would get slapped with a Cat III rating for certain a few years later!
Check out this "soft" trailer and then look at some caps (courtesy of Coolasscinema) and you'll notice the trailer is not showing any of the "harder" stuff (and there's plenty!).