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Roots Ireland (subscription site) has Drumhome C of I records going way back. Baptisms start in 1719 and marriages and burials in the late 1600s. I located the transcription for George and they have hsi year of birth as 1793. See below. Maybe a transcription error? You may want to get a short-term subscription to Roots and look for other records.
I also looked at the 1834 Tithe listings for Drumhome and the only Elliott record was a John in Morerah which is not on the offical townland list. See link below.
Name:George ElliotDate of Birth:
Date of Baptism:05-Feb-1793Address:LismintonParish/District:DRUMHOMEGender:MaleCountyCo. Donegal
Denomination:Church Of Ireland
Father:William ElliotMother:Margaret Love