In a medium bowl, combine the black pepper, rosemary, ground mustard, salt, garlic powder, dill, paprika, coriander, and red pepper flakes.
Using your hands, generously apply the compound butter directly to the roast, ensuring all sides are covered. Expert Tip: It can be challenging to evenly and smoothly apply the compound butter onto the meat. Instead of using your hands, try using a basting brush for the application.
As evenly as possible, sprinkle the dry rub mixture onto the entire roast, ensuring all sides and crevices are covered.
Prepare the smoker and preheat until the internal temperature reaches 225°F.
Put the elk roast on the smoker racks and insert a digital thermometer.
When the internal temperature reaches 130°F, remove the roast from the smoker and let it rest for 5-7 minutes before serving. Expert Tip: For medium-rare, I recommend pulling the meat from the smoker when it reaches 130°F. During the resting period, the meat will continue to cook up about 3-5 degrees in temperature.