Does "it" refer to "psychiyc research" or does it refer to "religion"?

Does "it" refer to "psychiyc research" or does it refer to "religion"?
"we may draw from it and..."

In another place the author has pointed out that though psychical research in itself may be quite distinct from religion, the deductions which we may draw from it and the lessons we may learn, "Teach us of the continued life of the soul, of the nature of that life, and of how it is influenced by our conduct here. If this is distinct from religion, I must confess that I do not understand the distinction.


"The History of Spiritualism," by Sir Arthur Conan Doyle