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Elephant Butte, NM. Online Offers. Elephant Butte is a city in Sierra County, New Mexico, United States, near Elephant Butte Reservoir and State Park. The population was 1,390 at the 2000 census. Elephant Butte is located at 33Â°11â²23â³N 107Â°13â²22â³W / 33.18972Â°N 107.22278Â°W / 33.18972; -107.22278 (33.189809, -107.222873). According to the United States Census Bureau, the city has a total area of 3.0 square miles (7.7 kmÂ²), all of it land.
It is at the intersection of I-90 and I-15. Helena, the State capital is 66 miles north on I-15, and Billings, the largest city in Montana is 226 miles east on I-90. Although Butte was one of the largest producing copper districts in the world, its mining heritage can be traced to the discovery of gold in 1864. Prospectors had already found rich placers at Bannack and Alder Gulch 70 miles to the south and at Dry Gulch near the present day City of Helena.