I don't think I would use it for elk, but my favorite load for my 270 is 55 gr of IMR4350 behind a Nosler Ballistic Tip bullet. This load has accounted for numerous whitetails from point blank out to around 300 yds. and for 2 mulies - one at about 250 yds and another at a laser ranged 437 yds.
For elk however, I would probably go will a sturdier bullet and try to keep my shots under about 250 yds.