I wouldn't recommend smoking it.
Rub your stuff on it, then sear it at about 450 for 10/15 minutes to seal the exterior.
Cook at 225 until it reaches your desired temp. (140 would be acceptable.)
I'd add liquid to the roasting pan (red burgundy/pinot noir or a syrah would work well) to keep up the moisture content of the cooking area.
Smoking simply starts out at too low a temp for it to be effective on a low fat content item such as your elk roast. You are most likely going to end up with a lump of half cooked/cured jerky.
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