Welcome back to archery. It sounds like you and I are in a similar predicament only mine is with muzzleloaders. That is how I recently got started on the hunting net because I had not shot a muzzleloader for quit a few years and wanted to get caught back up. As far as the archery goes, I have been into that for over 20 years and have been working in bow shops part time for near as long. I also moved from eastern Iowa to Montana about 20 years ago and have hunted the elusive elk the whole time. Now in regards to your question, yes your bow can kill an elk,BUT.......you must know your and its limitations. The energy they claim is needed for a particular animal is for a well placed, broadside shot without hitting bone. Any arrow that has bone contact now needs more energy to keep going. Also, carbons will be more durable, smaller so less resistance going through animal and do not cost much more than aluminums. I am not trying to discourage from using your current bow but to encourage you to know the limitations. If you are serious about hunting Montana then I would suggest looking at a higher poundage bow if you can handle it. Remember that a rifle caliber that is recommended for deer is always smaller than one you would see recommended for elk.