Since the onion jam takes longer to prepare than the elk steaks, I prefer to make it first. In fact, I’ll often make it a day or two in advance if I know time will be tight. It will keep for a week or so in the refrigerator.
Start by rendering the bacon in a large skillet until crisp. Move the cooked bacon to a paper-lined plate, leaving the drippings in the skillet.
Cut the bacon into small pieces and cook until crisp.
Add the sliced onions and sprinkle on the salt. Cook, over medium heat, for 10 minutes or until the onions are soft and translucent and have started to turn a golden brown.
Brown the onions in the bacon drippings, then add the bourbon and other ingredients.
Add the bourbon, apple cider vinegar, and honey. Bring the mixture to a light boil. Stir in the heavy cream, black pepper, and red pepper flakes. Return the bacon to the skillet and stir to blend. Reduce heat to a simmer and cook, stirring often, for another 20 to 25 minutes, or until the jam is a deep mahogany color and the onions have broken down into a paste.
Cook the jam to a deep mahogany color.
Turn off the heat and stir in the reserved tablespoon of Evan Williams bourbon. Cover to keep warm while the elk steaks grill.
Preheat your Traeger grill to 350 degrees. Season both sides of the steaks well with a mixture of salt, black pepper, garlic powder, and cumin. Grill the steaks for 3 to 5 minutes per side or to desired doneness. Top each steak with a generous spoonful of bourbon bacon onion jam just before serving.