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You're welcome. As long as you keep this interlinking between those blogs natural (and in order to benefit your visitors), you could do this, yes.

Hey Gabe, Unfortunately, building links through link directories can give you a mixed bag of results. The best links with the most stability are going to be non-directory links. And sometimes, all it takes is a nice email asking someone to link your site. Though if you're still looking for directories, check out Cyrus' post on how to find quality directories and best practices in your linking.