I find myself repeating this story more often than I'd like, but it has bearing here. Let me also say up front I have never hunted nor shot Elk, but I have used the 300 grain XTP, and I think my experience with this bullet fired at 1,250 fps from my SRH should ease your mind about the bullets capabilities.
I was hunting whitetail deer on my grandfathers farm a few years ago when a 6 point trotted out across a pasture area, quartering away from me. I mis-judged the lead and when I fired the deer dropped like a rag doll. I paced off the shot, 80 paces. I had hit the deer in the near-side hip, and there was an exit wound just in front of the off-side shoulder. EVERYTHING in between was destroyed. Postmortem showed the bullet had penetrated the hip, the pelvis, entered the spinal column and blew out every other vertebrae, turned slightly and split the shoulder bone aft to fore and exited the deer for parts unknown.
Use this load in the contender, or the Black Hawk with confidence. It WILL get where it needs to.