Did the noise from that mag start recently, or has it always been
there?
Waiter's list of debug items is correct, with a couple of addtions...
You could have a bad condensor inside the mag.
You can check to see if it is P-lead noise by completely disconnecting
the P-lead from the magneto and running the engine. BE VERY CAREFUL
doing this however, because AS SOON as you disconnect the P-lead, you
have a HOT MAG situation. That means that the engine can't be turned
off using the panel mounted switch - you'll have to turn it off via
fuel supply - either mixture cutoff or fuel valve. It also means that
being around the propellor is especially dangerous. Don't let anyone
near the propellor while the P-lead is disconnected!! The engine
could possibly spontaneously start; is likely to start if you bump the
prop. Even with all of the warnings, it is still useful to eliminate
a fault in the P-lead wiring by running the engine with it
disconnected.