|Elk is not difficult to prepare if you follow some basic rules.
Here are some tips from venisonsteaks.com
Do not overcook. The longer you cook Elk, the more likely it is to become dry. This is the cardinal rule.
Elk should be cooked to no more than 130-140 degrees Fahrenheit of internal temperature. At 150 degrees the meat starts to dry out because of its lack of fat. The use of a meat thermometer is the best way to determine when the meat has reached the desired degree of doneness. Let the meat rest in the juices, covered for 10-15 minutes before serving.
Frying/Browning should be done very quickly - do not overcook! Again, let it rest, covered, before serving.
When broiling and grilling, you should cook to no more than rare, or at least medium rare. When you need to serve to someone who prefers meat well-done, marinating the meat in your favorite sauce will help keep the meat deliciously tender. Adding moisture when grilling quality venison is not necessary. However you may wish to spread a small amount of butter or cooking oil onto the meat prior to cooking. After broiling or grilling, let the meat stand for about 8 minutes before serving so that the flavorful juices can accumulate.
Use tongs when turning or picking up elk meat. A fork will pierce the meat and cause some of the flavorful juices to escape during cooking.
If you need to cut the steak into strips before cooking, first cut against the grain into thin slices. Then stack the slices and cut them into quarter-inch thick strips. Cutting is easier if the steak is slightly frozen.
High quality young farm-raised Elk does not need to be marinated to change the texture or to mask the flavor. However a light marinate does help to keep the meat moist and enhances the flavor. Farm-raised Elk is tender and does not have any "wild" taste.