Scientists believe that storing carbon in Basalt will save us

HELLISHEIDI, Iceland: Sometime next month, on the steaming fringes of an Icelandic volcano, an international team of scientists will begin pumping "seltzer water" into a deep hole, producing a brew that will lock away carbon dioxide forever.
Chemically disposing of CO2, the chief greenhouse gas blamed for global warming, is a kind of 21st-century alchemy that researchers and governments have hoped for to slow or halt climate change.
The American and Icelandic designers of the "CarbFix" experiment will be capitalizing on a feature of the basalt rock underpinning 90 percent of Iceland: It is a highly reactive material that will combine its calcium with a carbon dioxide solution to form limestone, permanent, harmless limestone.
Do you think this is both environmentally and economically viable? For example, we store 50 tons of carbon at a certain location which is hit by a richter 8.9 earthquake? What will happen? Will the carbon get released into the atmosphere? If Yes, then what impact will it have on the living organisms?

Basalt (Geology.com)

Limestone