We examine the statistical distribution of critical nucleation pressures necessary to dynamically grow voids during the spall failure of an AZ31B magnesium alloy. The approach uses laser-driven micro-flyers to generate spall over times of the order of tens of nanoseconds, allowing us to focus on void nucleation processes rather than void coalescence processes. Our methodology combines quantitative postmortem characterization of void mediated failure with time-resolved interferometry of the failure event, and reveals the dynamics of the failure process. We infer the distribution of the underlying nucleation pressures and explore the associated strain rate dependence of spall strength in these alloys.