Jewel Falls is the lower of two waterfalls found along a southern tributary in the headwaters of Holcomb Creek, several miles upstream from Holcomb Creek. Interestingly, the tributary is not shown on topographic maps despite being pretty sizable. About 60 feet high, Jewel Falls drops off a vertical cliff in a single tier and is best seen in wet weather. This is the same cliff line forming the spectacular grotto at Hope Diamond Falls a quarter-mile to the northwest. 

Accessing Jewel Falls requires a tough off-trail bushwhack from Hale Ridge Road (FR 7). It is recommended to follow a faint fishermens' path down to Holcomb Creek, ford the creek, and then approach Jewel Falls from a dry ridge to the east. The woods are more open here than what you'd encounter if you tried to follow the creek directly. Looking at the map, hardcore waterfallers might consider hiking between Hope Diamond Falls and Jewel Falls. I would strongly discourage this idea, as speaking from personal experience, I found the whole area engulfed by some of the thickest rhododendron I've ever seen. 

For detailed directions, see page 357 in Mark Ozboyd's "Waterfalls of Georgia" guidebook.