About a half mile downstream from the main town site, just above the old mill foundation:
www.flickr.com/photos/34117538@N08/5552654863/in/set-7215...
Upper photo is courtesy Nevada Historical Society, and is probably by Gus Bundy, ca. mid 1930s; lower photo is by me, 14 July 2011. The photos are looking roughly east up a side canyon off Jumbo Grade.

Not much left of the old buildings! In striking contrast to the view above Jumbo itself, there were also more piñon/juniper trees in the 1930s than now, especially on the slope to the left. This evidently is the result of a fire a few decades back; there are lots of snags on that slope, and some are even skylined in the modern photo (view at large scale). It's also possible that that fire finished off what was left of the buildings.

There is a modern cultural feature: a tall communications tower right on the range crest to the right of the bluff peeking out in the middle of the canyon (outlined; view large). It was built only a couple of years ago.

The photo stance was hard to recover; it's now down in the steep gully formed by the 1997 flood. Apparently there had been some surface build-up due to sedimentation since the 1930s that was subsequently channeled by the flood. I'm sure Bundy took his photo from what then was the ground surface.