This sounds just like mineralized soil. I have tried it and used about a 12% clay mix with very nice results in a stem plant farm tank I had. I dont see why it would not work. Although 100% clay may be a problem, IDK..
This is a pic of the farm tank I had. It was used to grow every stem I could get my hands on and was changing all the time until I took the tank down. The clay/soil was almost a brick!