The rules for magic item creation seem to have been left up to individual setting authors to develop.
The one book I have access to that deals with magic item creation is Shaintar: Immortal Legends (a great Savage Worlds fantasy setting, by the way). It has three Edges that cover magic item creation, apart from its alchemy Edges.
In summary (all from pp. 44-47 of Shaintar):
Enchant is a Power Edge that allows the character to create a magic item on taking the Edge. (Can be taken again to create a second item, again for a third, etc.) They can choose any Power they have to imbue in the item, and the item gets the Arcane skill and Power Points equal to half the character at the time of creation.
Improved Enchant is similar, but costs a permanent investment of Power Points from the caster, but in exchange the item has infinite Power Points for powering its imbued spell.
Items made with Enchant and Improved Enchant can be used by non-casters as well. Casters also have the option of using their own Power Points to power the item's Power if the item's Arcane Background matches theirs.
Arcane Artificer is a Professional Edge that lets the character create one item with a particular effect when taking the Edge. The effect can be +1 to a trait roll, a weapon's damage, or an armour's bonus; or the item can store Power Points as a sort of mystic battery. In addition, every time the Artificer ends a session by gaining an Advance, they may roll to see if they've managed to improve another item in their or a companion's possession through their constant fiddling over the past while. Items have a bonus cap of +2, as anything better is considered an artifact.
I haven't reproduced the Edges here enough to just use them directly, but the overview does suggest a few ways that you can develop rules for item enchanting via Edges. (And you can always pick up the book and borrow them whole cloth. There's lots more in Shaintar that's excellent for a non-Shaintar fantasy game.) Notably, this design ties item creation directly to advancement, which is fairly in tune with the "Savage Worlds Way" of handling character power. It means that players can create things that are customised for their characters, but doesn't give them a license to print magic items.