I suspect there is some kind of binder involved and that the projectiles would be formed by pressing into a mold, Projectiles would necessarily be of very light weight, as lead has about 4X the specific gravity of calcium carbonate. For example, Chalk is a soft and porous form of calcium carbonate. I wouldn’t expect much in the way of penetration capability. BTW, Clay targets are molded of ground limestone (calcium carbonate) with a pitch binder. Likewise, I would expect functioning problems if these are fired from a recoil-operated automatic or semi-automatic weapon due to the low recoil impulse (MxV).
A translation of an article in one of the Argentine (I think) newspapers, January 2019:
"A new Argentine development, the PLOAR ammunition - whose acronym means Organic Lethal Projectile of Restricted Reach -, in addition to disintegrating when hitting solid surfaces, it also does so in semi-rigid areas, such as glass (not armored), which helps prevent damage collateral As it is not an expansive ammunition, it does not pierce large bones or mutilate, which avoids causing unnecessary damage. This projectile, marketed by Municiones del Futuro S.A., is not expansive, that is, in addition to not suffering significant deformations in its profile, it does not fragment within the human body.
Depending on the specific use, it has a distance and range of variable effectiveness. Its design and composition allow the maximum effective damage distance to be regulated (commonly by exceeding 30 meters away from the gun’s muzzle), which makes it usable in populated areas, significantly reducing the risk of causing collateral damage to innocent people. In addition, by not bouncing on solid surfaces, an intimidating, warning shot can be made against the ground, without the risk of a rebound damaging the shooter himself or an innocent. Its special composition and lower weight make the recoil that causes its shot is significantly less than the classic for its caliber. These are its most important characteristics:
Identifiable: the ammunition or its bullet can be associated with the human group that uses it, given that the bullets of the PLOAR ammunition can be of various colors. In this way, those of civil use and those of each of the security forces can be identified, which in an expert scene in which civilians and security forces participated allows to determine to whom the found projectiles belong.*
Non-polluting: being non-polluting and used for defense or hunting, there is no possibility that neither the human target nor the person who consumes the dam (Game???) will suffer from poisoning by metals such as lead (Pb), copper (Cu), nickel (Ni), etc. On the other hand, since it does not possess contaminating metals as a constituent part of its bullet, it can be used by ammunition owners, shooters and shooting instructors, who carry out their commercial, educational and sports activities in shooting ranges or closed places (not fully open)."