Possible? Not very. Probable - maybe. However, when talking geology the time frame must be looked at a much broader scale. In Ethiopia right now is a perfect example of a rift that has developed in the crust.
Many expect that this is the start of a new ocean. However, it just started to form in 2005. This will be a process that will continue for many years long after we've been recycled many times over.
However, it needs to be understood that is a gradual process of tearing. I can't find anything where an earthquake exposed magma away from an existing volcanic system.
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