It's possible and if you're going to do them both I'd do Cragg first and spend more time at Lee Quarry. Cragg is smaller but definitely worth atleast two or three laps.
When I cycled from Cragg to Lee, I crossed a boggy field which is slightly down hill to Lee Quarry, that was a **** joy to ride! That is the most direct route, and I think the location of the link trail between Lee and Cragg. I'm sure is an easier longer route.
You have the correct post code for Lee, if you fancy parking at Cragg use BB4 7DR. That's the post code for The Buck Inn. Landlord is a keen biker and doesn't mind people using his car park.
Enjoy!