Township of James/Elk Lake
After the discovery of silver in Cobalt, attention turned to the surrounding areas in hope of another mother lode. In 1905, a rush of prospectors went up the Montreal River by canoe in search of more silver. Five canoe retailers were established in Latchford to serve the flow of prospectors up the river. Following a discovery of native silver in 1906, Elk Lake was being called the "New Cobalt."
Elk Lake was first known as Bear Creek Village, then Jamestown, Smyth, Elk City, Elk Lake City and then finally by 1910, Elk Lake. The name Elk Lake is attributed to the Cree Indians who named the lake (a widening in the river) for the herds of elk and caribou that were once found in the area.