Cob may or may not have been an engineered product, the key to it working so well is similar thermal expansion rates.
You may have some issues with mortar and volcanic ash. Prior to committing to and unproven formula, perhaps you could make a few small bricks of it, fire it in a
wood fire and see what the results are. Might even embed a tin can in one of the test bricks to see if the thermal expansion on the steel wil cause separation, if it all holds up, give it a full scale shot.
Just hate to see someone work as hard and long only to find out it crumbles a few hot fires later.
Professor of Thermal and Electrical Engineering, Welding/metallurgy: Licenses: PE license, Mechanical license Variety of other "certifications" from industry groups such as Refrigeration Service Engineers Society http://www.rses.org/, ASHRE http://www.ashrae.org/ Ect.