I tried the following this year and it made the best burgers I've ever eaten. My wife (who hates wild game) and several friends also agree- best burgers they've ever had.

I pick up choice ribeye steaks on sale for $5/ lb. Slice the ribeye steaks up into cubes with fat and all- then mix 1 part ribeye to 3 parts elk while grinding.

Just the right amount of fat to make for a really juicy burger, yet still fairly lean. Incredibly rich flavor. Ends up around $1.67/ lb- a lot cheaper than the junk ground 'beef' you buy in the stores around here.