In Sept 1982 I road from SoCal to Washington DC. I wore long sleeved wool through the Mohave 115-120 heat. Worked just fine.

And I wear wool daily. Socks, base layers and shirts. I generally don't ride with wool anymore - except as a base layer. But then, it is generally not that cold and I run hot.

I have Enduro Baa-Baa socks, vest and beanie plus an Icebreaker vest as well, all made from merino wool and all picked up in sales for a relatively good price.

Wool doesn't have to be expensive. PlanetX has a few merino items at very reasonable prices.

I have Vittore Gianni wool cycling sweaters from 1960s that still see regular use.

All of my "wool" stuff is actually wool/acrylic blend.
5 ss base layer micro weight shirts (one with a hole, still OK as a base layer)
2 ls base layer heavy weight shirts
1 ls cycling jersey
umpteen pairs of wool blend socks

For anything active (cycling, running, hiking/backpacking, skiing, skating) I only wear wool socks. I find that I tend to get blisters more easily when wearing pure acrylic socks.

Darn tough socks are the best

Got lots of merino wool from hunting I also use for biking. Some of it in camo patterns.

Research needle-felting. The elbow on one of my wool jackets wore through and I fixed it myself by needle-felting a matching piece of fabric from the inner side of the sleeve. I've also done this at other locations such as where a metal zipper-pull wore a hole in the fabric. I'm unfamiliar with your Ibex garment so, can't say for sure that it will work. If it's standard wool composition, say 85 wool, 15 nylon, needle felting will work. If it's instead somekind of fancy 50 wool, 50 nylon, it might not, but the failed attempt probably wouldn't make it worse.

Edit: that's assuming your garment is woven. If it's knit, needle-felting might work but I've never tried it on that type of garment.

Knit, I'm pretty sure, but thanks. I've seen those repairs, e.g., on tweeds and what not, and they are elegant.

I bought some Merino wool socks on ebay some 5 years ago. I'm still amazed at how it is warm in the winter and cool in the summer. One of the best clothing purchases I ever made. Only downside is they wear quicker. Cost is preventing me from venturing to get Merino wool versions of other clothing items.

Woolen sweaters (preferably merino, a type of sheep with the finest wool) make excellent under jacket warm wear on chilly days. They can often be scored cheap from clothing off-cast or discount stores or even thrift stores. Since the color does not matter, those garish Italian ones marked down 90% make excellent choices.